Rovida Advisors Inc. Has $10.63 Million Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• Rovida Advisors Inc. increased its stake in Caesars Entertainment by 6.3%, becoming the company's 6th largest position with 425,000 shares valued at approximately $10.6 million.
• Several institutional investors showed significant activity in Caesars Entertainment, with Invesco Ltd. growing its holdings by 22.9% to 6.8 million shares valued at about $170.6 million.
• Despite revenue growth of 2.7% year-over-year, Caesars reported a loss of ($0.39) earnings per share, falling short of analysts' estimates by $0.46.

Rovida Advisors Inc. increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Caesars Entertainment makes up about 8.0% of Rovida Advisors Inc.'s investment portfolio, making the stock its 6th biggest holding. Rovida Advisors Inc. owned 0.20% of Caesars Entertainment worth $10,625,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CZR. Resona Asset Management Co. Ltd. bought a new stake in Caesars Entertainment in the 4th quarter valued at $44,000. Envestnet Asset Management Inc. raised its stake in Caesars Entertainment by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 131,835 shares of the company's stock valued at $4,406,000 after acquiring an additional 6,779 shares during the period. Federated Hermes Inc. raised its stake in Caesars Entertainment by 16.6% in the 4th quarter. Federated Hermes Inc. now owns 162,980 shares of the company's stock valued at $5,447,000 after acquiring an additional 23,178 shares during the period. Invesco Ltd. raised its stake in Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the period. Finally, FIL Ltd bought a new stake in Caesars Entertainment in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Barclays dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Cfra reaffirmed a "hold" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. 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. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Price Performance

NASDAQ:CZR traded up $0.64 during trading hours on Tuesday, hitting $24.64. The company's stock had a trading volume of 7,425,475 shares, compared to its average volume of 6,490,396. The stock has a fifty day simple moving average of $28.01 and a 200-day simple moving average of $29.09. The company has a market capitalization of $5.12 billion, a P/E ratio of -26.78 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released 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). The business had revenue of $2.91 billion during 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%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned ($0.56) earnings per share. On average, analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal 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.