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 purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,188 shares of the company's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CZR. Vanguard Group Inc. lifted its holdings in Caesars Entertainment by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company's stock valued at $588,721,000 after acquiring an additional 183,963 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Caesars Entertainment by 22.9% in the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock valued at $170,582,000 after purchasing an additional 1,269,911 shares in the last quarter. HG Vora Capital Management LLC lifted its position in shares of Caesars Entertainment by 73.3% during 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 acquiring an additional 1,650,000 shares during the period. DAVENPORT & Co LLC raised its position in shares of Caesars Entertainment by 1,051.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock worth $87,399,000 after purchasing an additional 3,192,224 shares during the last quarter. Finally, Hein Park Capital Management LP acquired a new stake in shares of Caesars Entertainment during the 1st quarter worth $60,492,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CZR. Macquarie decreased their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Barclays cut their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. JMP Securities dropped their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 30th. Truist Financial cut their price target on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Trading Down 3.1%

Shares of NASDAQ CZR traded down $0.81 during midday trading on Friday, reaching $25.09. The stock had a trading volume of 4,956,409 shares, compared to its average volume of 5,389,006. The company's 50 day moving average price is $27.12 and its 200 day moving average price is $27.46. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -27.27 and a beta of 2.24. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93.

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

Caesars Entertainment 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.