Duquesne Family Office LLC Makes New Investment in 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 position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,548,420 shares of the company's stock, valued at approximately $38,711,000. Caesars Entertainment comprises 1.3% of Duquesne Family Office LLC's holdings, making the stock its 23rd largest position. Duquesne Family Office LLC owned 0.74% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CZR. Mather Group LLC. lifted its holdings in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after buying an additional 405 shares during the last quarter. Allworth Financial LP increased 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 buying an additional 662 shares during the period. Bogart Wealth LLC increased 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 buying an additional 700 shares during the period. Resona Asset Management Co. Ltd. increased 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 buying an additional 477 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in Caesars Entertainment by 99.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock worth $79,000 after buying an additional 1,572 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Macquarie cut their price target on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. JMP Securities dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Price Performance

CZR stock traded down $0.90 during midday trading on Tuesday, hitting $25.49. 2,837,697 shares of the stock were exchanged, compared to its average volume of 5,585,787. The stock's 50-day moving average price is $27.46 and its 200-day moving average price is $27.62. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -27.78 and a beta of 2.24. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly 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). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the firm earned ($0.56) earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Research analysts predict 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.