Petrus Trust Company LTA Takes $255,000 Position in Caesars Entertainment, Inc. $CZR

Key Points

• Petrus Trust Company LTA purchased 10,188 shares of Caesars Entertainment, valued at approximately $255,000, in the first quarter of the year.
• Caesars Entertainment's shares are currently down 3.8%, and the company reported a loss of $0.39 EPS in its latest earnings, missing analyst expectations.
• Institutional investors own 91.79% of Caesars Entertainment, with several firms significantly increasing their stakes in the first quarter.

Petrus Trust Company LTA acquired a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,188 shares of the company's stock, valued at approximately $255,000.

Other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC raised its stake in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Caesars Entertainment by 14.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after purchasing an additional 1,360 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Caesars Entertainment in the 1st quarter valued at about $540,000. HG Vora Capital Management LLC raised its stake in shares of Caesars Entertainment by 73.3% in the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company's stock valued at $97,500,000 after purchasing an additional 1,650,000 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Caesars Entertainment in the 1st quarter valued at about $30,148,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Stock Performance

NASDAQ CZR traded up $0.72 on Monday, hitting $25.81. The stock had a trading volume of 1,247,243 shares, compared to its average volume of 5,572,575. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of -28.11 and a beta of 2.24. The company's 50-day moving average is $27.12 and its two-hundred day moving average is $27.37.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company posted ($0.56) EPS. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 target price on the stock. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Susquehanna dropped their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Cfra reiterated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.