Insiders Were Right: ERI Makes New 52-Week High

In trading on Tuesday, shares of Eldorado Resorts Inc (Symbol: ERI) touched a new 52-week high of $54.46/share. That's a 70.94% rise, or $22.6 per share from the 52-week low of $31.86 set back on 12/24/2018. That means at today's intraday high, any investor who purchased ERI stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, ERI has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
08/08/2019 James B. Hawkins Director 6,000 $40.34 $242,070.00
08/08/2019 Michael E. Pegram Director 10,000 $40.36 $403,600.00
09/03/2019 James B. Hawkins Director 2,000 $35.70 $71,400.00
09/03/2019 Michael E. Pegram Director 10,000 $36.90 $369,000.00

The chart below shows where ERI has traded over the past year, with the 50-day and 200-day moving averages included.

Eldorado Resorts Inc Moving Averages Chart

In afternoon trading on Tuesday, ERI shares are changing hands at $53.75/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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