BW Gestao de Investimentos Ltda. Grows Stock Holdings in Caesars Entertainment, Inc. $CZR

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in Caesars Entertainment by 55.5%, now holding 364,096 shares worth $9.1 million after acquiring an additional 130,000 shares.
• Other institutional investors such as Mather Group LLC and Allworth Financial LP have also significantly increased their stakes in the company during Q1.
• Caesars Entertainment's stock has a current average rating of "Moderate Buy" with a consensus target price of $42.47, despite a recent decline of 3.3% in share price.

BW Gestao de Investimentos Ltda. boosted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 55.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,096 shares of the company's stock after buying an additional 130,000 shares during the period. BW Gestao de Investimentos Ltda. owned approximately 0.18% of Caesars Entertainment worth $9,102,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its stake in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after acquiring an additional 3,192,224 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Caesars Entertainment by 14.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after purchasing an additional 1,360 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Caesars Entertainment during the 1st quarter valued at $540,000. Sequoia Financial Advisors LLC bought a new stake in Caesars Entertainment during the 1st quarter valued at $30,148,000. Finally, Penn Capital Management Company LLC increased its stake in Caesars Entertainment by 101.9% during the 1st quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company's stock valued at $1,154,000 after purchasing an additional 22,812 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Truist Financial lowered their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Barclays reduced their target price on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Morgan Stanley reduced their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Cfra reiterated a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. One investment 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. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.47.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded up $0.59 during trading on Friday, hitting $26.34. The company's stock had a trading volume of 6,346,343 shares, compared to its average volume of 5,559,893. 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 company has a 50-day moving average of $27.50 and a 200-day moving average of $27.75. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -28.63 and a beta of 2.24. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month 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 analysts' consensus estimates 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 firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business posted ($0.56) EPS. Caesars Entertainment's revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.