65,760 Shares in Caesars Entertainment, Inc. (NASDAQ:CZR) Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired 65,760 shares of Caesars Entertainment, valued at approximately $1.644 million, marking a new investment in the company.
• Several institutional investors, including Vanguard Group and Capital Research Global Investors, have significantly increased their stakes in Caesars Entertainment during the recent quarters.
• Caesars Entertainment has recently seen its stock rated as a "Moderate Buy" by analysts, with an average price target of $42.47 despite reporting a loss in earnings per share for the last quarter.

Aigen Investment Management LP bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 65,760 shares of the company's stock, valued at approximately $1,644,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its position in shares of Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock worth $87,399,000 after acquiring an additional 3,192,224 shares during the period. Capital Research Global Investors raised its position in shares of Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after acquiring an additional 2,555,876 shares during the period. Cohen & Steers Inc. raised its position in shares of Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock worth $487,265,000 after acquiring an additional 1,882,728 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Caesars Entertainment in the fourth quarter worth about $57,629,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of Caesars Entertainment by 3,673.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock worth $46,389,000 after purchasing an additional 1,351,286 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Up 2.7%

Shares of Caesars Entertainment stock traded up $0.64 during mid-day trading on Tuesday, hitting $24.64. The stock had a trading volume of 7,425,475 shares, compared to its average volume of 6,490,396. The firm has a 50-day moving average of $28.01 and a two-hundred day moving average of $29.09. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month 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 firm has a market cap of $5.12 billion, a P/E ratio of -26.78 and a beta of 2.40.

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

Wall Street Analyst Weigh In

CZR has been the subject of a number of research reports. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their target price 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. JMP Securities cut their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 30th. Cfra reissued a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Macquarie cut their target price on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment 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.