Caesars Entertainment, Inc. $CZR Stock Holdings Lifted by HG Vora Capital Management LLC

Key Points

• HG Vora Capital Management LLC increased its stake in Caesars Entertainment, Inc. by 73.3%, now owning 3.9 million shares valued at approximately $97.5 million.
• Caesars reported a net loss of $0.39 per share for the last quarter, falling short of analysts' expectations, despite revenue exceeding projections at $2.91 billion.
• Analyst ratings for Caesars Entertainment are mixed, with a consensus target price of $42.47 and varying recommendations from "Strong Buy" to "Neutral."

HG Vora Capital Management LLC increased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 73.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,900,000 shares of the company's stock after buying an additional 1,650,000 shares during the quarter. Caesars Entertainment comprises about 10.0% of HG Vora Capital Management LLC's holdings, making the stock its 5th largest position. HG Vora Capital Management LLC owned approximately 1.88% of Caesars Entertainment worth $97,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mather Group LLC. lifted its stake in Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after buying an additional 405 shares in the last quarter. Allworth Financial LP increased its holdings in Caesars Entertainment by 97.8% in 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 boosted its position in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after buying an additional 700 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of Caesars Entertainment by 35.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after purchasing an additional 477 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in shares of Caesars Entertainment during the fourth quarter worth about $105,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CZR. Susquehanna lowered their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. JMP Securities cut their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 30th. Macquarie dropped their price target on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Morgan Stanley decreased their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Finally, Cfra reissued a "hold" rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Trading Down 3.4%

Caesars Entertainment stock traded down $0.91 during mid-day trading on Tuesday, reaching $25.47. 2,837,697 shares of the company traded hands, compared to its average volume of 5,585,787. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -27.78 and a beta of 2.24. 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 firm's 50 day moving average price is $27.46 and its 200 day moving average price is $27.62.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company earned ($0.56) EPS. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

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.