GAMMA Investing LLC Raises Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

GAMMA Investing LLC grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 5,069.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,675 shares of the company's stock after purchasing an additional 97,747 shares during the period. GAMMA Investing LLC's holdings in Caesars Entertainment were worth $2,492,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Caesars Entertainment by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company's stock worth $1,287,000 after acquiring an additional 408 shares in the last quarter. Arizona State Retirement System grew its stake in Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company's stock worth $2,098,000 after purchasing an additional 470 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Caesars Entertainment by 6.1% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock worth $291,000 after purchasing an additional 500 shares during the period. Contrarian Capital Management L.L.C. increased its holdings in Caesars Entertainment by 0.4% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company's stock worth $3,944,000 after purchasing an additional 500 shares during the period. Finally, Fifth Lane Capital LP raised its position in Caesars Entertainment by 6.3% in the 4th quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock valued at $284,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Price Performance

CZR traded down $1.75 during trading on Friday, reaching $25.56. 6,900,444 shares of the stock were exchanged, compared to its average volume of 4,882,409. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -15.31 and a beta of 2.31. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The business's 50 day moving average price is $27.26 and its two-hundred day moving average price is $30.95.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. Caesars Entertainment's quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CZR. Truist Financial cut their target price on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays increased their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Macquarie decreased their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Morgan Stanley reduced their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.77.

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.