Concurrent Investment Advisors LLC bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,671 shares of the company's stock, valued at approximately $331,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CZR. DAVENPORT & Co LLC grew its position in Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock worth $87,399,000 after buying an additional 3,192,224 shares during the period. Hein Park Capital Management LP acquired a new position in Caesars Entertainment during the first quarter worth about $60,492,000. HG Vora Capital Management LLC grew its position in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company's stock worth $97,500,000 after buying an additional 1,650,000 shares during the period. Duquesne Family Office LLC acquired a new position in Caesars Entertainment during the first quarter worth about $38,711,000. Finally, Royal Bank of Canada grew its position in Caesars Entertainment by 477.7% during the first quarter. Royal Bank of Canada now owns 1,833,567 shares of the company's stock worth $45,839,000 after buying an additional 1,516,153 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have weighed in on CZR. Susquehanna lowered their target price on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Zacks Research lowered shares of Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective for the company. JMP Securities reduced their target price on Caesars Entertainment from $41.00 to $40.00 and set a "market outperform" rating on the stock in a research note on Friday. Finally, Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average target price of $42.13.
View Our Latest Report on Caesars Entertainment
Caesars Entertainment Price Performance
CZR stock opened at $21.45 on Monday. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.88. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. The stock's 50 day moving average price is $25.39 and its 200 day moving average price is $26.87. The firm has a market cap of $4.46 billion, a P/E ratio of -23.31 and a beta of 2.38.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same period in the prior year, the company earned ($0.56) EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.
Caesars Entertainment Profile
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Free Report)
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.
Further Reading
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