WCM Investment Management LLC Makes New $1.69 Million Investment in Eldorado Resorts Inc (NASDAQ:ERI)

WCM Investment Management LLC acquired a new stake in shares of Eldorado Resorts Inc (NASDAQ:ERI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,247 shares of the company’s stock, valued at approximately $1,693,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elk Creek Partners LLC acquired a new position in Eldorado Resorts in the first quarter valued at approximately $6,871,000. Wells Fargo & Company MN lifted its holdings in Eldorado Resorts by 9.1% in the first quarter. Wells Fargo & Company MN now owns 1,964,722 shares of the company’s stock valued at $91,733,000 after buying an additional 163,078 shares during the period. Financial Counselors Inc. acquired a new position in Eldorado Resorts in the first quarter valued at approximately $212,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Eldorado Resorts in the first quarter valued at approximately $199,000. Finally, Mason Street Advisors LLC lifted its holdings in Eldorado Resorts by 1.6% in the first quarter. Mason Street Advisors LLC now owns 34,589 shares of the company’s stock valued at $1,615,000 after buying an additional 538 shares during the period. 85.71% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ERI opened at $46.07 on Friday. Eldorado Resorts Inc has a 12 month low of $31.86 and a 12 month high of $54.99. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 3.78. The stock’s fifty day moving average is $49.33. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.65.

Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The business had revenue of $627.75 million for the quarter, compared to analyst estimates of $660.92 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts predict that Eldorado Resorts Inc will post 2.32 earnings per share for the current year.

Several brokerages recently weighed in on ERI. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Wolfe Research began coverage on shares of Eldorado Resorts in a report on Friday, June 14th. They issued a “peer perform” rating on the stock. Zacks Investment Research upgraded shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus began coverage on shares of Eldorado Resorts in a report on Wednesday, June 5th. They issued a “buy” rating and a $62.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus price target of $53.64.

Eldorado Resorts Company 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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