Duquesne Family Office LLC Purchases Shares of 1,548,420 Caesars Entertainment, Inc. $CZR

Key Points

• Duquesne Family Office LLC invested approximately $38.71 million in Caesars Entertainment, acquiring 1,548,420 shares during Q1, which now represents 1.3% of its portfolio.
• Other institutional investors, such as Vanguard Group Inc. and Invesco Ltd., have also increased their stakes in Caesars Entertainment recently, indicating strong interest in the company.
• Caesars Entertainment reported a significant loss of ($0.39) EPS for its last quarterly earnings, missing analysts' expectations, despite revenues of $2.91 billion that slightly exceeded estimates.

Duquesne Family Office LLC purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,548,420 shares of the company's stock, valued at approximately $38,711,000. Caesars Entertainment makes up 1.3% of Duquesne Family Office LLC's holdings, making the stock its 23rd largest holding. Duquesne Family Office LLC owned 0.74% of Caesars Entertainment as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. DAVENPORT & Co LLC lifted its position in shares of 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 purchasing an additional 3,192,224 shares in the last quarter. Hein Park Capital Management LP acquired a new position in shares of Caesars Entertainment during the first quarter worth approximately $60,492,000. BNP Paribas Financial Markets acquired a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $57,629,000. Royal Bank of Canada lifted its position in shares of Caesars Entertainment by 477.7% during the first quarter. Royal Bank of Canada now owns 1,833,567 shares of the company's stock worth $45,839,000 after purchasing an additional 1,516,153 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of Caesars Entertainment by 3,673.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock worth $46,389,000 after purchasing an additional 1,351,286 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Cfra reiterated a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. 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 note on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They set a "buy" rating and a $36.00 price target for the company. Finally, JMP Securities dropped their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Up 0.2%

Shares of CZR stock traded up $0.04 during trading hours on Monday, hitting $26.38. 7,194,750 shares of the company were exchanged, compared to its average volume of 5,603,681. The business has a 50 day moving average of $27.50 and a two-hundred day moving average of $27.68. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a market capitalization of $5.49 billion, a PE ratio of -28.67 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results 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 the consensus estimate 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. 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.