Empire Resorts Inc (NASDAQ:NYNY)’s stock price crossed above its 50 day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a 50 day moving average of $9.72 and traded as high as $9.75. Empire Resorts shares last traded at $9.75, with a volume of 63 shares trading hands.
Specifically, major shareholder Huat Realty Ltd Kien III sold 13,200,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $9.74, for a total value of $128,568,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.
A number of equities research analysts have commented on NYNY shares. ValuEngine downgraded shares of Empire Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded shares of Empire Resorts from a “sell” rating to a “strong sell” rating in a research report on Friday, October 18th.
Empire Resorts (NASDAQ:NYNY) last issued its earnings results on Thursday, August 8th. The company reported ($1.05) earnings per share (EPS) for the quarter. Empire Resorts had a negative net margin of 65.05% and a negative return on equity of 77.24%. The company had revenue of $60.07 million during the quarter.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Empire Resorts by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,756 shares of the company’s stock valued at $36,000 after buying an additional 2,171 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Empire Resorts in the 3rd quarter valued at $130,000. Gabelli Funds LLC acquired a new position in shares of Empire Resorts in the 3rd quarter valued at $870,000. Finally, BlackRock Inc. boosted its holdings in shares of Empire Resorts by 3.9% in the 2nd quarter. BlackRock Inc. now owns 280,743 shares of the company’s stock valued at $2,695,000 after buying an additional 10,467 shares in the last quarter. Institutional investors and hedge funds own 31.24% of the company’s stock.
Empire Resorts Company Profile (NASDAQ:NYNY)
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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