May 10, 2023 – Full House Resorts (NASDAQ:FLL), a company engaged in the ownership, leasing, development, operation, and management of gaming, hospitality, and entertainment facilities opened at $6.26 on Tuesday. The stock has a fifty-day simple moving average of $7.43 and a two hundred day simple moving average of $7.82.
Investors take note that the company has a current ratio of 3.09, a quick ratio of 3.07 and a debt-to-equity ratio of 4.07. While Full House Resorts has had a one-year low of $4.82 it has also experienced a high of $10.13 in the last year.
The outperformance analysts’ room is abuzz with opinions from various analysts evaluating Full House Resorts shares since March this year.
StockNews.com gave an upbeat note on the stock when it raised it from “sell” to “hold” in its research note published on March 10th . In contrast, TheStreet rated the stock from “c” to “d+” in their report released on April 10th .
JMP Securities restated their previous ‘market outperform’ rating for Full House Resorts shares while setting an optimistic target price of $13 in its April report dated April 17th.
Furthermore, the gaming industry has been flourishing due to recent technological advances such as augmented and virtual reality systems integrating into casinos games along with rise among millennial consumer base especially in sports wagering markets like Nevada which will ultimately act as an additional impetus for Full House Resorts growth plans since they have segment presence there along with other state segments like Colorado which are not experiencing positive contributions well above $30 million revenue during first quarter results.
Full House Resort’s lacklustre first-quarter earnings came short against predictions as estimating EPS was at ($0.11) per share; instead reported at ($0.20) per share. Meanwhile, revenue was lower than consensus projections, standing at $36.08 million compared with $40.05 million.
These inconsistencies have raised concerns among investors about the company’s future prospects amidst its current challenging landscape.
Full House Resorts remains focused on delivering value to its shareholders by strategically positioning itself in various States of the US bringing in new ventures and life into the rapidly growing entertainment and gaming market.
Institutional Investors Show Confidence in Full House Resorts’ Growth Potential
Full House Resorts, Inc. (NASDAQ:FLL) has recently been the subject of investment analysts’ attention. Reportedly, B. Riley dropped its Q2 2023 EPS estimates for Full House Resorts in a research note issued to investors on May 8th, causing a decline from their previous estimate of $0.07 to $0.06 per share for the quarter. However, Full House Resorts is estimated to post earnings of $0.18 per share for the current full-year earnings, according to the consensus estimate.
Despite this news, institutional investors have made moves that indicate confidence in the company’s potential growth trajectory. Recent filings show that BlackRock Inc., Vanguard Group Inc., Wasatch Advisors Inc., JPMorgan Chase & Co., and Beach Point Capital Management LP have all made changes to their positions in Full House Resorts.
BlackRock Inc. increased its position in Full House Resorts by 0.7% during Q1 2023, now owning over two million shares of the company’s stock worth around $19,706,000 after buying an additional 14,940 shares during the period. Meanwhile, Vanguard Group Inc.’s position grew by 0.8% during the same period with around $15,972,000 worth of shares.
Wasatch Advisors Inc., JPMorgan Chase & Co., and Beach Point Capital Management LP also increased their respective stakes in Full House Resorts during Q4 and Q1 of 2023; with Beach Point Capital Management LP increasing its holdings by a notable 25.6%.
The fact that multiple institutional investors are increasing their positions in Full House Resorts suggests that they believe there is untapped potential in this hospitality company.
It is essential to note that past performance is not indicative of future success; however these recent changes noted among institutional investors signal investor confidence and positive sentiment towards Full House Resorts’ future prospects within an industry with massive growth opportunities on the horizon.
