Eldorado Resorts Sees Unusually High Options Volume (ERI)

Eldorado Resorts (NASDAQ:ERI) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 2,041 call options on the company. This represents an increase of approximately 1,047% compared to the average volume of 178 call options.

In other news, Director Roger P. Wagner sold 6,612 shares of Eldorado Resorts stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $43.00, for a total transaction of $284,316.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Stormborn Capital Management LLC acquired a new position in shares of Eldorado Resorts during the 4th quarter worth approximately $10,774,000. Schwab Charles Investment Management Inc. increased its position in shares of Eldorado Resorts by 11.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 258,402 shares of the company’s stock worth $8,567,000 after purchasing an additional 27,058 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in shares of Eldorado Resorts during the 4th quarter worth approximately $9,082,000. Three Peaks Capital Management LLC increased its position in shares of Eldorado Resorts by 24.0% during the 4th quarter. Three Peaks Capital Management LLC now owns 440,911 shares of the company’s stock worth $14,616,000 after purchasing an additional 85,217 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Eldorado Resorts by 117.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after purchasing an additional 1,775 shares during the last quarter. 85.01% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on ERI. BidaskClub upgraded Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a report on Thursday. Nomura began coverage on Eldorado Resorts in a report on Tuesday, May 8th. They set a “neutral” rating and a $47.00 price objective on the stock. SunTrust Banks lifted their price objective on Eldorado Resorts to $49.00 and gave the company a “buy” rating in a report on Friday, May 4th. Deutsche Bank boosted their target price on Eldorado Resorts from $38.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, April 17th. Finally, Roth Capital boosted their target price on Eldorado Resorts from $42.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, April 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.16.

Eldorado Resorts opened at $44.25 on Friday, according to MarketBeat. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 4,425.00 and a beta of 1.01. The company has a current ratio of 2.19, a quick ratio of 2.12 and a debt-to-equity ratio of 2.28. Eldorado Resorts has a 52 week low of $42.60 and a 52 week high of $44.10.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, May 3rd. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.13). The firm had revenue of $440.19 million during the quarter, compared to the consensus estimate of $446.15 million. Eldorado Resorts had a net margin of 5.62% and a return on equity of 2.81%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. equities analysts expect that Eldorado Resorts will post 1.9 EPS for the current year.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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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