BNP Paribas Financial Markets Has $30.96 Million Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• BNP Paribas Financial Markets reduced its stake in Caesars Entertainment, Inc. by 28.2%, selling 485,971 shares, lowering its ownership to 0.60% valued at approximately $30.96 million.
• Caesars reported a quarterly loss of ($0.39) earnings per share, significantly below the expected consensus of $0.07, despite a revenue increase of 2.7% year-over-year to $2.91 billion.
• Several analysts have adjusted their price targets for Caesars Entertainment, with estimates now ranging from $27.00 to $43.00, indicating a mixed outlook among financial experts.

BNP Paribas Financial Markets trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,238,422 shares of the company's stock after selling 485,971 shares during the period. BNP Paribas Financial Markets owned about 0.60% of Caesars Entertainment worth $30,961,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its holdings in 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. Allspring Global Investments Holdings LLC boosted its stake in Caesars Entertainment by 14.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock worth $261,000 after purchasing an additional 1,360 shares during the period. GSA Capital Partners LLP acquired a new position in Caesars Entertainment in the 1st quarter worth approximately $540,000. Sequoia Financial Advisors LLC acquired a new position in Caesars Entertainment in the 1st quarter worth approximately $30,148,000. Finally, Penn Capital Management Company LLC boosted its stake in Caesars Entertainment by 101.9% in the 1st quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company's stock worth $1,154,000 after purchasing an additional 22,812 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. JMP Securities lowered their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 30th. Macquarie cut their price target on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 price target for the company. 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Stock Performance

CZR stock traded up $0.59 during midday trading on Friday, hitting $26.34. 6,346,343 shares of the company traded hands, compared to its average volume of 5,559,893. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -28.63 and a beta of 2.24. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The business has a 50 day simple moving average of $27.50 and a 200-day simple moving average of $27.82.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly 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 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 the consensus estimate of $2.85 billion. During the same period in the prior year, the business earned ($0.56) EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.