Empire Resorts (NASDAQ:NYNY) Lowered to Sell at BidaskClub

Empire Resorts (NASDAQ:NYNY) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday, July 15th, BidAskClub reports.

NYNY stock traded up $0.06 during mid-day trading on Monday, hitting $9.34. 29,500 shares of the stock were exchanged, compared to its average volume of 10,745. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm’s fifty day simple moving average is $9.79. Empire Resorts has a 12 month low of $6.31 and a 12 month high of $16.96.

Empire Resorts (NASDAQ:NYNY) last released its earnings results on Wednesday, May 8th. The company reported ($1.09) earnings per share for the quarter. Empire Resorts had a negative net margin of 68.57% and a negative return on equity of 74.60%. The company had revenue of $57.61 million during the quarter.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Empire Resorts by 1.1% during the 4th quarter. BlackRock Inc. now owns 289,765 shares of the company’s stock worth $2,936,000 after acquiring an additional 3,047 shares during the period. Geode Capital Management LLC grew its holdings in shares of Empire Resorts by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 55,670 shares of the company’s stock worth $563,000 after acquiring an additional 997 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Empire Resorts by 39.6% during the 4th quarter. Bank of New York Mellon Corp now owns 16,073 shares of the company’s stock worth $163,000 after acquiring an additional 4,557 shares during the period. Institutional investors own 1.91% of the company’s stock.

About Empire Resorts

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.

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