Verizon Communications (VZ) Shares Declined While Cibc Asset Management Has Cut by $1.91 Million Its Stake; Eldorado Resorts (ERI) Share Price Rose While Scopus Asset Management LP Has Boosted Its Position

June 17, 2018 - By Marie Mckinney

Verizon Communications Inc. (NYSE:VZ) Logo

Cibc Asset Management Inc decreased its stake in Verizon Communications Inc (VZ) by 7.99% based on its latest 2018Q1 regulatory filing with the SEC. Cibc Asset Management Inc sold 40,744 shares as the company’s stock declined 1.16% with the market. The institutional investor held 469,331 shares of the telecommunications equipment company at the end of 2018Q1, valued at $22.40M, down from 510,075 at the end of the previous reported quarter. Cibc Asset Management Inc who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $198.58 billion market cap company. The stock increased 0.50% or $0.24 during the last trading session, reaching $48.06. About 31.40M shares traded or 107.00% up from the average. Verizon Communications Inc. (NYSE:VZ) has risen 7.08% since June 17, 2017 and is uptrending. It has underperformed by 5.49% the S&P500. Some Historical VZ News: 23/04/2018 – New York Post: AT&T, Verizon investigated for anti-trust violations; 16/05/2018 – VERIZON CFO: 5G WILL BE A STEADY REVENUE STREAM BY 2020; 15/05/2018 – Verizon to speak at J.P. Morgan conference May 16; 20/04/2018 – U.S. SAID TO INVESTIGATE AT&T AND VERIZON OVER WIRELESS COLLUSION CLAIM – NYT , CITING; 22/03/2018 – U.S. retailer Best Buy cuts ties with China’s Huawei; 23/04/2018 – Verizon Subscriber Numbers, 5G Technology in Focus — Earnings Preview; 18/04/2018 – CASA SYSTEMS INC – APPOINTED DANIEL S. MEAD FORMER PRESIDENT AND CEO OF VERIZON WIRELESS TO ITS BOARD OF DIRECTORS; 24/05/2018 – VODAFONE GROUP PLC VOD.L – REPURCHASE OF FLOATING RATE NOTES BY VERIZON; 24/04/2018 – Verizon Subscriber Uptick Tops Estimates, Easing Growth Concerns; 24/04/2018 – Verizon Expects Tax Savings to Generate Net $3.5 Billion to $4 Billion Uplift to 2018 Cash Flow From Ops

Alexander Mitchell increased its stake in Eldorado Resorts Inc (ERI) by 19.28% based on its latest 2018Q1 regulatory filing with the SEC. Scopus Asset Management Lp bought 375,865 shares as the company’s stock rose 32.44% while stock markets declined. The hedge fund run by Alexander Mitchell held 2.33M shares of the consumer services company at the end of 2018Q1, valued at $76.75M, up from 1.95 million at the end of the previous reported quarter. Scopus Asset Management Lp who had been investing in Eldorado Resorts Inc for a number of months, seems to be bullish on the $3.28B market cap company. The stock decreased 0.82% or $0.35 during the last trading session, reaching $42.5. About 833,189 shares traded or 13.82% up from the average. Eldorado Resorts, Inc. (NASDAQ:ERI) has risen 117.07% since June 17, 2017 and is uptrending. It has outperformed by 104.50% the S&P500. Some Historical ERI News: 16/04/2018 – Eldorado Resorts to Acquire Operating Assets of Seven Casinos in Six States; 03/05/2018 – ELDORADO RESORTS REPORTS FIRST QUARTER NET REVENUE OF $440.2 MILLION, OPERATING INCOME OF $54.2 MILLION AND ADJUSTED EBITDA OF $103.5 MILLION; 08/05/2018 – ELDORADO RESORTS SAYS FTC REQUEST IN CONNECTION WITH FTC’S REVIEW OF LADY LUCK VICKSBURG TRANSACTION – SEC FILING; 27/04/2018 – The Cordish Companies and Eldorado Resorts, Inc. (NASDAQ: ERI) Announce New Joint Venture to Develop World-Class, Mixed-Use; 06/03/2018 Experts from ERI and CSR Weigh in on Potential Litigation Surge After Supreme Court Decision on Privacy Breaches; 16/04/2018 – Eldorado Resorts To Acquire Tropicana Entertainment In Accretive Transaction Valued At $1.85 Billion; 27/04/2018 – The Cordish Companies and Eldorado Resorts, Inc. (NASDAQ: ERI) Announce New Joint Venture to Develop World-Class, Mixed-Use Hospitality Destination in Pompano, FL; 16/04/2018 – Eldorado Resorts to Fund Remaining $640M of Cash Consideration Payabl; 16/04/2018 – Icahn Enterprises Tropicana Unit to Merge Its Gaming and Hotel Ops Into Eldorado Resorts; 16/04/2018 – Gaming and Leisure Properties, Inc. Announces Acquisition of the Real Estate Assets of Tropicana Entertainment

Scopus Asset Management Lp, which manages about $3.64B and $10.80 billion US Long portfolio, decreased its stake in Wabash Natl Corp (NYSE:WNC) by 1.70 million shares to 305,564 shares, valued at $6.36M in 2018Q1, according to the filing. It also reduced its holding in Tronox Ltd (NYSE:TROX) by 220,900 shares in the quarter, leaving it with 79,100 shares, and cut its stake in Five Below Inc (Put) (NASDAQ:FIVE).

More news for Eldorado Resorts, Inc. (NASDAQ:ERI) were recently published by: Investorplace.com, which released: “20 Gambling Stocks to Play the Booming Economy” on May 24, 2018. Seekingalpha.com‘s article titled: “Tracking Carl Icahn’s Portfolio – Q1 2018 Update” and published on May 21, 2018 is yet another important article.

Among 11 analysts covering Eldorado Resorts (NASDAQ:ERI), 10 have Buy rating, 0 Sell and 1 Hold. Therefore 91% are positive. Eldorado Resorts had 18 analyst reports since March 11, 2016 according to SRatingsIntel. The stock of Eldorado Resorts, Inc. (NASDAQ:ERI) has “Buy” rating given on Monday, September 25 by Deutsche Bank. The stock of Eldorado Resorts, Inc. (NASDAQ:ERI) has “Neutral” rating given on Friday, March 11 by Macquarie Research. Suntrust Robinson initiated Eldorado Resorts, Inc. (NASDAQ:ERI) on Friday, August 19 with “Buy” rating. The company was maintained on Tuesday, October 24 by SunTrust. J.P. Morgan initiated it with “Buy” rating and $2400 target in Thursday, July 20 report. The stock of Eldorado Resorts, Inc. (NASDAQ:ERI) has “Buy” rating given on Thursday, February 22 by SunTrust. The stock of Eldorado Resorts, Inc. (NASDAQ:ERI) earned “Outperform” rating by Imperial Capital on Monday, August 15. Roth Capital maintained Eldorado Resorts, Inc. (NASDAQ:ERI) rating on Tuesday, June 12. Roth Capital has “Buy” rating and $6000 target. JP Morgan maintained Eldorado Resorts, Inc. (NASDAQ:ERI) rating on Wednesday, November 15. JP Morgan has “Overweight” rating and $31 target. Roth Capital maintained it with “Buy” rating and $4900 target in Monday, April 16 report.

Investors sentiment decreased to 0.99 in 2018 Q1. Its down 0.28, from 1.27 in 2017Q4. It dived, as 17 investors sold ERI shares while 55 reduced holdings. 23 funds opened positions while 48 raised stakes. 63.18 million shares or 3.20% more from 61.22 million shares in 2017Q4 were reported. Three Peaks Mgmt Ltd Liability Corp holds 1.07% in Eldorado Resorts, Inc. (NASDAQ:ERI) or 189,948 shares. Legal General Gru Public Ltd Co owns 0% invested in Eldorado Resorts, Inc. (NASDAQ:ERI) for 17,341 shares. Epoch Inc, New York-based fund reported 1.02M shares. Parkside Bancshares And stated it has 0.86% of its portfolio in Eldorado Resorts, Inc. (NASDAQ:ERI). Wealthtrust owns 0% invested in Eldorado Resorts, Inc. (NASDAQ:ERI) for 140 shares. Pnc Fincl Service Gru owns 14,864 shares. Vaughan Nelson Inv Lp has 0.38% invested in Eldorado Resorts, Inc. (NASDAQ:ERI) for 948,291 shares. Macquarie Gru Limited holds 69,444 shares or 0% of its portfolio. Prelude Capital Management Lc has 38,980 shares for 0.09% of their portfolio. Sg Americas Securities Ltd Liability invested 0% of its portfolio in Eldorado Resorts, Inc. (NASDAQ:ERI). Creative Planning reported 36,840 shares stake. Boothbay Fund Limited Co reported 29,272 shares. 20,089 were accumulated by Trexquant Investment L P. Tiger Mngmt Ltd Liability Corp owns 32,000 shares or 0.14% of their US portfolio. Swiss Bank invested in 86,444 shares or 0% of the stock.

Since February 13, 2018, it had 0 insider buys, and 2 sales for $444,552 activity.

Investors sentiment decreased to 0.97 in 2018 Q1. Its down 0.05, from 1.02 in 2017Q4. It turned negative, as 69 investors sold VZ shares while 675 reduced holdings. 132 funds opened positions while 593 raised stakes. 2.55 billion shares or 0.58% more from 2.54 billion shares in 2017Q4 were reported. Covington Inv Advsr Inc reported 58,995 shares stake. Miller Howard Invs Inc accumulated 2.28% or 2.02M shares. Amer Research Management Communication, Massachusetts-based fund reported 10,908 shares. Hengehold Capital Mngmt Ltd Liability owns 45,878 shares. Eii Cap Mngmt holds 0.06% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 2,092 shares. Oarsman stated it has 89,140 shares. Integral Derivatives Limited, New York-based fund reported 10,955 shares. Smith Asset Management Gp Lp reported 128,720 shares. Northpointe Cap Ltd holds 81,789 shares or 0.49% of its portfolio. Wedgewood Investors Incorporated Pa holds 27,213 shares or 1.11% of its portfolio. Afam Incorporated accumulated 84,915 shares. Carret Asset Mngmt Ltd Liability Co invested 1.44% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Westport Asset Mgmt stated it has 862 shares. The Illinois-based Allstate has invested 0.01% in Verizon Communications Inc. (NYSE:VZ). Dean Inv Assoc Ltd stated it has 1.12% in Verizon Communications Inc. (NYSE:VZ).

Among 31 analysts covering Verizon Communications Inc. (NYSE:VZ), 15 have Buy rating, 0 Sell and 16 Hold. Therefore 48% are positive. Verizon Communications Inc. had 85 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Wednesday, July 27 by Hilliard Lyons. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Wednesday, January 24 by Nomura. RBC Capital Markets maintained the shares of VZ in report on Monday, January 25 with “Outperform” rating. As per Thursday, April 7, the company rating was downgraded by Jefferies. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, July 31 report. JP Morgan maintained it with “Neutral” rating and $58 target in Wednesday, January 24 report. On Tuesday, August 11 the stock rating was upgraded by MoffettNathanson to “Neutral”. The firm has “Overweight” rating by Barclays Capital given on Monday, April 23. The firm earned “Hold” rating on Friday, July 14 by Barclays Capital. The company was downgraded on Wednesday, January 25 by FBR Capital.

Cibc Asset Management Inc, which manages about $15.40 billion US Long portfolio, upped its stake in Eog Res Inc (NYSE:EOG) by 95,249 shares to 217,426 shares, valued at $22.89 million in 2018Q1, according to the filing. It also increased its holding in American Express Co (NYSE:AXP) by 18,891 shares in the quarter, for a total of 115,114 shares, and has risen its stake in Ishares Tr (MCHI).

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on July, 26. They expect $1.15 earnings per share, up 19.79% or $0.19 from last year’s $0.96 per share. VZ’s profit will be $4.75B for 10.45 P/E if the $1.15 EPS becomes a reality. After $1.17 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -1.71% negative EPS growth.

More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Fool.com which released: “Better Buy: Altria Group vs. Verizon” on June 17, 2018, also Globenewswire.com with their article: “Verizon holds sellside analyst meeting” published on May 21, 2018, Seekingalpha.com published: “Verizon: We Don’t Know About Vestberg, But Dividend Remains Well Covered” on June 12, 2018. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Seekingalpha.com and their article: “AT&T’s Merger Creates A Buying Opportunity” published on June 15, 2018 as well as Globenewswire.com‘s news article titled: “Verizon announces CEO succession plan” with publication date: June 08, 2018.

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