Helikon Investments Ltd Cuts Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• Helikon Investments Ltd reduced its stake in Caesars Entertainment by 17.7% during the 1st quarter, resulting in ownership of approximately 1,164,049 shares valued at $29.1 million.
• Institutional investors own 91.79% of Caesars Entertainment stock, highlighting significant market interest, with various firms adjusting their stakes in recent quarters.
• Caesars Entertainment recently reported a loss of $0.39 EPS for the quarter, missing analysts' expectations while achieving a revenue of $2.91 billion, which surpassed projections.

Helikon Investments Ltd reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,164,049 shares of the company's stock after selling 250,498 shares during the period. Caesars Entertainment comprises approximately 2.2% of Helikon Investments Ltd's holdings, making the stock its 12th largest holding. Helikon Investments Ltd owned about 0.56% of Caesars Entertainment worth $29,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC lifted its holdings in shares of Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after buying an additional 3,192,224 shares during the period. Capital Research Global Investors increased its position in Caesars Entertainment by 14.8% in the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after purchasing an additional 2,555,876 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after acquiring an additional 1,882,728 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Caesars Entertainment during the 4th quarter valued at about $57,629,000. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Caesars Entertainment by 3,673.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock valued at $46,389,000 after acquiring an additional 1,351,286 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CZR. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Friday, July 11th. Barclays lowered their target price on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Susquehanna reduced their price objective on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded down $0.04 during mid-day trading on Monday, hitting $24.00. 6,020,107 shares of the stock were exchanged, compared to its average volume of 6,396,339. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $4.99 billion, a P/E ratio of -26.09 and a beta of 2.40. The company has a 50-day simple moving average of $28.04 and a 200 day simple moving average of $29.12. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share 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 net margin of 1.71% and a negative return on equity of 4.55%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.56) earnings per share. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share 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.