Canada Pension Plan Investment Board Grows Position in Caesars Entertainment, Inc. $CZR

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 boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 13,462.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,000 shares of the company's stock after acquiring an additional 215,400 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Caesars Entertainment worth $5,425,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. lifted its position in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares during the period. Allworth Financial LP increased its stake in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after purchasing an additional 662 shares in the last quarter. Bogart Wealth LLC increased its stake in Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after purchasing an additional 700 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Caesars Entertainment by 35.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after purchasing an additional 477 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Caesars Entertainment by 99.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock valued at $79,000 after purchasing an additional 1,572 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of CZR traded down $0.43 on Tuesday, reaching $25.96. The company's stock had a trading volume of 1,115,802 shares, compared to its average volume of 5,576,666. 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 market capitalization of $5.40 billion, a P/E ratio of -28.22 and a beta of 2.24. The stock's 50 day simple moving average is $27.46 and its two-hundred day simple moving average is $27.62. 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 posted its quarterly earnings data 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 business had revenue of $2.91 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.56) EPS. Research analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Macquarie reduced their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Cfra restated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Morgan Stanley reduced 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 note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.47.

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.