Bridger Management LLC Has $6.62 Million Position in 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 increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 79.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,725 shares of the company's stock after buying an additional 117,100 shares during the period. Caesars Entertainment accounts for about 3.3% of Bridger Management LLC's investment portfolio, making the stock its 13th biggest holding. Bridger Management LLC owned approximately 0.13% of Caesars Entertainment worth $6,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CZR. 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 in the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Caesars Entertainment by 35.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after acquiring an additional 477 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Caesars Entertainment by 3.1% during the fourth 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 in the last quarter. American Trust increased its position in shares of Caesars Entertainment by 8.7% during the fourth quarter. American Trust now owns 7,505 shares of the company's stock worth $251,000 after acquiring an additional 601 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after acquiring an additional 662 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Truist Financial cut their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. JMP Securities cut their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 30th. Barclays cut their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Caesars Entertainment has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Stock Performance

CZR stock traded up $0.09 during trading hours on Monday, reaching $26.43. The stock had a trading volume of 2,803,245 shares, compared to its average volume of 5,576,806. The stock has a market capitalization of $5.50 billion, a PE ratio of -28.71 and a beta of 2.24. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a 50-day simple moving average of $27.50 and a 200 day simple moving average of $27.68. 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 quarterly earnings data 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the firm earned ($0.56) earnings per share. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Caesars Entertainment Company 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.