Caesars Entertainment, Inc. $CZR Shares Purchased by Penn Capital Management Company LLC

Key Points

• Penn Capital Management Company LLC increased its position in Caesars Entertainment by 101.9%, owning 45,207 shares valued at approximately $1.15 million.
• Several hedge funds significantly boosted their holdings in Caesars Entertainment, with Jump Financial LLC raising theirs by 468.2%, now owning 101,529 shares valued at about $2.54 million.
• Despite reporting a quarterly loss of ($0.39) EPS, Caesars Entertainment's revenue reached $2.91 billion, surpassing analyst estimates of $2.85 billion.

Penn Capital Management Company LLC grew its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 101.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,207 shares of the company's stock after purchasing an additional 22,812 shares during the quarter. Penn Capital Management Company LLC's holdings in Caesars Entertainment were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. boosted its position in Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Allworth Financial LP boosted its position in Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after acquiring an additional 662 shares during the last quarter. Bogart Wealth LLC boosted its position in Caesars Entertainment by 82.8% during the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock worth $53,000 after acquiring an additional 800 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in 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 acquiring an additional 477 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of recent research reports. Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. JMP Securities reduced their price target on shares of 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 reduced their price target on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, Truist Financial dropped their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.47.

Caesars Entertainment Price Performance

Shares of CZR traded down $0.49 during trading hours on Friday, reaching $26.77. The company had a trading volume of 2,030,111 shares, compared to its average volume of 5,560,449. The firm has a 50 day simple moving average of $27.82 and a 200-day simple moving average of $28.32. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -29.11 and a beta of 2.40. 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 announced 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 during the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.56) EPS. Research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.