Caesars Entertainment, Inc. $CZR Shares Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board increased its stake in Caesars Entertainment by 13,462.5% in Q1, acquiring an additional 215,400 shares, raising its total to 217,000 shares worth approximately $5.4 million.
• Institutional investors now own 91.79% of Caesars Entertainment, with other notable increases from firms like DAVENPORT & Co LLC and Jefferies Financial Group.
• Caesars reported a quarterly EPS of ($0.39), missing estimates, while revenue increased to $2.91 billion.

Canada Pension Plan Investment Board grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 13,462.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,000 shares of the company's stock after purchasing an additional 215,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.10% of Caesars Entertainment worth $5,425,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. DAVENPORT & Co LLC increased its holdings 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 worth $87,399,000 after buying an additional 3,192,224 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Caesars Entertainment in the fourth quarter valued at approximately $57,629,000. Jefferies Financial Group Inc. lifted its holdings in shares of Caesars Entertainment by 3,673.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock worth $46,389,000 after purchasing an additional 1,351,286 shares during the period. Invesco Ltd. boosted its position in shares of Caesars Entertainment by 22.9% during the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock worth $170,582,000 after purchasing an additional 1,269,911 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Caesars Entertainment in the 1st quarter worth about $30,148,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.08 during trading hours on Monday, reaching $26.42. The stock had a trading volume of 3,721,636 shares, compared to its average volume of 5,581,794. The stock has a market capitalization of $5.50 billion, a PE ratio of -28.77 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. The company's 50-day moving average is $27.50 and its two-hundred day moving average is $27.68. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82.

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 analysts' consensus estimates of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.56) EPS. Research analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CZR. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. JMP Securities decreased their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 30th. Morgan Stanley decreased their target price on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Stifel Nicolaus upped their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. One research 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

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.