Blueshift Asset Management LLC Purchases New Position 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 purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,388 shares of the company's stock, valued at approximately $860,000.

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

Caesars Entertainment Stock Down 3.7%

Shares of CZR traded down $1.00 during mid-day trading on Friday, hitting $25.68. 7,822,694 shares of the company's stock were exchanged, compared to its average volume of 5,481,769. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -27.91 and a beta of 2.40. The stock's 50-day moving average is $28.37 and its 200-day moving average is $29.55. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its 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 return on equity of 4.55% and a negative net margin of 1.71%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the firm earned ($0.56) earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CZR has been the subject of several research analyst reports. Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. Barclays dropped their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Macquarie dropped their target price on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Susquehanna decreased their price target on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.53.

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.