Alyeska Investment Group L.P. Sells 220,476 Shares of Caesars Entertainment, Inc. $CZR

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. lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 54.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,230 shares of the company's stock after selling 220,476 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.09% of Caesars Entertainment worth $4,606,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CZR. Mather Group LLC. raised its holdings in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the last quarter. Allworth Financial LP lifted its stake in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after acquiring an additional 662 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after purchasing an additional 700 shares during the period. Resona Asset Management Co. Ltd. raised its stake in shares of Caesars Entertainment by 35.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after purchasing an additional 477 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $105,000. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Trading Down 3.8%

CZR stock traded down $0.99 during midday trading on Tuesday, hitting $25.39. The company had a trading volume of 6,788,102 shares, compared to its average volume of 5,610,324. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The stock's 50 day moving average price is $27.46 and its 200 day moving average price is $27.62. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -27.60 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the firm posted ($0.56) EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cfra reaffirmed a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a report on Friday, July 11th. The Goldman Sachs Group initiated coverage on Caesars Entertainment in a report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective for the company. Truist Financial cut their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Susquehanna cut their target price on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. One 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 data from MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and an average price target of $42.47.

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.