Caesars Entertainment, Inc. $CZR is Kanen Wealth Management LLC's 8th Largest Position

Key Points

• Kanen Wealth Management LLC increased its holdings in Caesars Entertainment by 33.5%, now holding 503,098 shares, making it the 8th largest position in their portfolio.
• Caesars reported a loss of ($0.39) EPS for the recent quarter, falling short of the consensus estimate by $0.46, while revenue increased by 2.7% year-over-year.
• Currently, 91.79% of Caesars' shares are owned by hedge funds and institutional investors, highlighting significant interest from major investors in the company.

Kanen Wealth Management LLC raised its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,098 shares of the company's stock after buying an additional 126,338 shares during the period. Caesars Entertainment comprises approximately 5.4% of Kanen Wealth Management LLC's investment portfolio, making the stock its 8th biggest position. Kanen Wealth Management LLC owned 0.24% of Caesars Entertainment worth $14,283,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. DAVENPORT & Co LLC boosted its position in shares of Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after buying an additional 3,192,224 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Caesars Entertainment by 14.9% in the first 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 during the period. GSA Capital Partners LLP purchased a new stake in shares of Caesars Entertainment in the first quarter valued at approximately $540,000. HG Vora Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company's stock valued at $97,500,000 after purchasing an additional 1,650,000 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Caesars Entertainment in the first quarter valued at approximately $30,148,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $25.74 on Tuesday. The business's fifty day simple moving average is $26.59 and its 200-day simple moving average is $27.17. The company has a market cap of $5.35 billion, a PE ratio of -27.98 and a beta of 2.24. 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 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) earnings per share (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 firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned ($0.56) earnings per share. Caesars Entertainment's revenue was up 2.7% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on CZR shares. Stifel Nicolaus boosted their price target on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Susquehanna lowered their price target on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Friday, August 1st. 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 price target for the company. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Finally, Morgan Stanley lowered their price target on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

Caesars Entertainment 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.

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