Blueshift Asset Management LLC Purchases New Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• Blueshift Asset Management LLC acquired 34,388 shares of Caesars Entertainment, valued at approximately $860,000, during the first quarter according to their 13F filing.
• Institutional ownership in Caesars Entertainment has significantly increased, with 91.79% of the stock held by institutional investors and hedge funds.
• Caesars Entertainment reported a loss of ($0.39) EPS for the last quarter, missing analyst estimates, but saw a revenue increase of 2.7% year-over-year.

Blueshift Asset Management LLC bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,388 shares of the company's stock, valued at approximately $860,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in shares of Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock valued at $291,000 after acquiring an additional 500 shares during the period. Contrarian Capital Management L.L.C. grew its holdings in Caesars Entertainment by 0.4% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company's stock worth $3,944,000 after buying an additional 500 shares in the last quarter. Fifth Lane Capital LP boosted its position in Caesars Entertainment by 6.3% during the 4th quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock worth $284,000 after acquiring an additional 500 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Caesars Entertainment by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,207 shares of the company's stock worth $608,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JMP Securities reduced their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, July 30th. Susquehanna reduced their target price on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Friday. The Goldman Sachs Group started coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 target price for the company. Finally, Cfra reaffirmed a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average target price of $42.53.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded down $0.02 during midday trading on Tuesday, hitting $25.35. The company's stock had a trading volume of 3,094,288 shares, compared to its average volume of 5,518,752. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -27.59 and a beta of 2.40. The stock's 50 day simple moving average is $28.32 and its 200 day simple moving average is $29.46. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. 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 (NASDAQ:CZR - Get Free Report) last released its 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). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.56) EPS. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share 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.