Falcon Point Capital LLC Reduces Position in Eldorado Resorts Inc (ERI)

Falcon Point Capital LLC reduced its holdings in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 5.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 133,405 shares of the company’s stock after selling 7,239 shares during the quarter. Eldorado Resorts accounts for about 3.4% of Falcon Point Capital LLC’s investment portfolio, making the stock its 2nd largest holding. Falcon Point Capital LLC’s holdings in Eldorado Resorts were worth $6,229,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in Eldorado Resorts by 3,877.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 941,858 shares of the company’s stock worth $26,000 after acquiring an additional 918,176 shares during the period. Mascoma Wealth Management LLC bought a new stake in Eldorado Resorts during the 1st quarter worth approximately $47,000. Bank of Montreal Can increased its holdings in Eldorado Resorts by 23.9% during the 4th quarter. Bank of Montreal Can now owns 4,269 shares of the company’s stock worth $154,000 after acquiring an additional 824 shares during the period. FNY Investment Advisers LLC increased its holdings in Eldorado Resorts by 127.5% during the 4th quarter. FNY Investment Advisers LLC now owns 4,866 shares of the company’s stock worth $176,000 after acquiring an additional 2,727 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Eldorado Resorts by 7.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,541 shares of the company’s stock worth $201,000 after buying an additional 365 shares during the last quarter. 88.13% of the stock is currently owned by institutional investors and hedge funds.

ERI stock opened at $48.46 on Monday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.93 and a current ratio of 0.98. Eldorado Resorts Inc has a 52 week low of $31.86 and a 52 week high of $51.67. The firm has a market cap of $3.75 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 1.04 and a beta of 1.73.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 2nd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The company had revenue of $627.75 million for the quarter, compared to analyst estimates of $660.92 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts expect that Eldorado Resorts Inc will post 2.34 earnings per share for the current year.

A number of brokerages have recently commented on ERI. Zacks Investment Research raised shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Roth Capital reissued a “buy” rating on shares of Eldorado Resorts in a report on Thursday, February 28th. Jefferies Financial Group set a $58.00 price target on shares of Eldorado Resorts and gave the stock a “buy” rating in a report on Thursday, February 28th. BidaskClub lowered shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank reissued a “buy” rating and issued a $54.00 price target on shares of Eldorado Resorts in a report on Wednesday, January 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.43.

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Eldorado Resorts Profile

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.

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Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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