Investors Purchase High Volume of Call Options on Eldorado Resorts (NASDAQ:ERI)

Eldorado Resorts Inc (NASDAQ:ERI) was the target of some unusual options trading activity on Wednesday. Stock investors bought 23,576 call options on the company. This represents an increase of 2,020% compared to the average volume of 1,112 call options.

NASDAQ ERI opened at $48.17 on Thursday. The company has a market cap of $4.33 billion, a P/E ratio of 40.14, a P/E/G ratio of 1.37 and a beta of 1.60. The company has a debt-to-equity ratio of 3.68, a quick ratio of 2.28 and a current ratio of 2.32. The business’s 50 day moving average price is $62.44 and its 200-day moving average price is $50.63. Eldorado Resorts has a fifty-two week low of $35.41 and a fifty-two week high of $70.74.

A number of analysts have recently weighed in on ERI shares. BidaskClub lowered Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. TheStreet lowered Eldorado Resorts from a “b” rating to a “c+” rating in a research note on Monday, February 3rd. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 7th. Roth Capital increased their price objective on Eldorado Resorts from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on Eldorado Resorts from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.89.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERI. BlackRock Inc. lifted its position in shares of Eldorado Resorts by 24.3% in the second quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after acquiring an additional 1,789,647 shares in the last quarter. Canyon Capital Advisors LLC increased its holdings in Eldorado Resorts by 2.4% in the 4th quarter. Canyon Capital Advisors LLC now owns 5,250,594 shares of the company’s stock valued at $313,145,000 after purchasing an additional 120,889 shares in the last quarter. Point Break Capital Management LLC grew its stake in shares of Eldorado Resorts by 855.4% during the fourth quarter. Point Break Capital Management LLC now owns 3,296,054 shares of the company’s stock valued at $196,577,000 after acquiring an additional 2,951,054 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Eldorado Resorts by 65.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,249,305 shares of the company’s stock valued at $134,149,000 after acquiring an additional 888,446 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Eldorado Resorts by 72.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,448,100 shares of the company’s stock worth $86,567,000 after purchasing an additional 610,250 shares during the last quarter. 98.64% of the stock is currently owned by hedge funds and other institutional investors.

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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