Empire Resorts (NASDAQ:NYNY) Downgraded by BidaskClub

BidaskClub lowered shares of Empire Resorts (NASDAQ:NYNY) from a hold rating to a sell rating in a research note issued to investors on Monday, BidAskClub reports.

Shares of NYNY opened at $8.85 on Monday. Empire Resorts has a 1-year low of $6.31 and a 1-year high of $20.58. The stock’s fifty day moving average price is $11.71. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.36 and a current ratio of 0.37.

Empire Resorts (NASDAQ:NYNY) last issued its earnings results on Wednesday, May 8th. The company reported ($1.09) earnings per share for the quarter. The firm had revenue of $57.61 million for the quarter. Empire Resorts had a negative return on equity of 74.60% and a negative net margin of 68.57%.

A number of institutional investors and hedge funds have recently modified their holdings of NYNY. Bank of New York Mellon Corp increased its holdings in Empire Resorts by 39.6% during the fourth quarter. Bank of New York Mellon Corp now owns 16,073 shares of the company’s stock worth $163,000 after buying an additional 4,557 shares during the last quarter. BlackRock Inc. increased its holdings in Empire Resorts by 1.1% during the fourth quarter. BlackRock Inc. now owns 289,765 shares of the company’s stock worth $2,936,000 after buying an additional 3,047 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Empire Resorts by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 55,670 shares of the company’s stock worth $563,000 after buying an additional 997 shares during the last quarter. Institutional investors and hedge funds own 1.91% of the company’s stock.

Empire Resorts Company Profile

Empire Resorts, Inc engages in hospitality and gaming businesses in New York. The company owns and operates Monticello Casino and Raceway, a video gaming machine (VGM) and harness horseracing facility in Monticello that operates 1,110 VGMs, including 1,090 video lottery terminals and 20 electronic table game positions; Resorts World Catskills, a casino resort located in Sullivan County, New York; The Alder, a 101-room modern lifestyle hotel; and Amenities, a Casino with 332 guest rooms and suites.

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