Bridger Management LLC Buys 117,100 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Bridger Management LLC increased its stake in Caesars Entertainment by 79.3%, acquiring an additional 117,100 shares, bringing its total holdings to 264,725 shares valued at approximately $6.62 million.
• Caesars Entertainment reported a quarterly loss of ($0.39) EPS, missing analyst expectations, despite a revenue increase of 2.7% year-over-year to $2.91 billion.
• Analysts have adjusted their price targets for Caesars Entertainment, with Macquarie and Morgan Stanley lowering their targets, indicating a mixed outlook for the stock, which has an average rating of "Moderate Buy."

Bridger Management LLC lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 79.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 264,725 shares of the company's stock after purchasing an additional 117,100 shares during the period. Caesars Entertainment makes up about 3.3% of Bridger Management LLC's holdings, making the stock its 13th biggest position. Bridger Management LLC owned 0.13% of Caesars Entertainment worth $6,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CZR. Northern Trust Corp raised its position in shares of Caesars Entertainment by 9.9% during the fourth quarter. Northern Trust Corp now owns 1,770,247 shares of the company's stock worth $59,162,000 after purchasing an additional 159,173 shares during the period. BNP Paribas Financial Markets acquired a new position in Caesars Entertainment during the fourth quarter valued at $57,629,000. Bridgefront Capital LLC raised its position in Caesars Entertainment by 75.8% during the fourth quarter. Bridgefront Capital LLC now owns 11,297 shares of the company's stock valued at $378,000 after buying an additional 4,872 shares during the period. Brevan Howard Capital Management LP acquired a new position in Caesars Entertainment during the fourth quarter valued at $1,309,000. Finally, Deutsche Bank AG raised its position in Caesars Entertainment by 60.5% during the fourth quarter. Deutsche Bank AG now owns 1,206,435 shares of the company's stock valued at $40,319,000 after buying an additional 454,988 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CZR shares. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Truist Financial dropped their price target on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Cfra reissued a "hold" rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Stifel Nicolaus boosted their target price on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Up 2.3%

NASDAQ CZR traded up $0.59 on Friday, reaching $26.34. The stock had a trading volume of 6,346,343 shares, compared to its average volume of 5,559,893. The business has a 50 day moving average price of $27.50 and a 200 day moving average price of $27.75. 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 1 year low of $21.40 and a 1 year high of $45.93. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -28.63 and a beta of 2.24.

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