Caesars Entertainment, Inc. $CZR Stock Position Reduced by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its stake in Caesars Entertainment by 54.5%, now holding 184,230 shares worth approximately $4.61 million.
• Caesars Entertainment reported a loss of ($0.39) earnings per share, missing analysts' estimates, but showed a 2.7% increase in revenue year-over-year.
• Several analysts have issued a positive outlook on Caesars Entertainment, with an average rating of "Moderate Buy" and a consensus target price of $42.47.

Alyeska Investment Group L.P. reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 54.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,230 shares of the company's stock after selling 220,476 shares during the quarter. Alyeska Investment Group L.P. owned about 0.09% of Caesars Entertainment worth $4,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CZR. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company's stock worth $588,721,000 after buying an additional 183,963 shares in the last quarter. Invesco Ltd. increased its stake in shares of Caesars Entertainment by 22.9% during the first quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock valued at $170,582,000 after acquiring an additional 1,269,911 shares during the period. DAVENPORT & Co LLC raised its holdings 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 purchasing an additional 3,192,224 shares in the last quarter. Hein Park Capital Management LP acquired a new stake in Caesars Entertainment in the first quarter worth approximately $60,492,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Caesars Entertainment by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,935,141 shares of the company's stock worth $48,379,000 after purchasing an additional 58,170 shares during the period. Institutional investors own 91.79% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CZR shares. JPMorgan Chase & Co. boosted their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a report on Monday, July 7th. They set a "buy" rating and a $36.00 target price on the stock. 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. Cfra restated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. One 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. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Trading Up 1.1%

Shares of CZR traded up $0.27 during midday trading on Thursday, hitting $25.90. The stock had a trading volume of 4,022,285 shares, compared to its average volume of 5,460,726. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The business has a 50-day simple moving average of $27.22 and a two-hundred day simple moving average of $27.53. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The firm has a market cap of $5.39 billion, a P/E ratio of -28.15 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly 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 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 quarter last year, the company posted ($0.56) EPS. The firm's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

About Caesars Entertainment

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.