GC Wealth Management RIA LLC Takes $303,000 Position in Caesars Entertainment, Inc. $CZR

Key Points

• GC Wealth Management RIA LLC has acquired a new stake in Caesars Entertainment, purchasing 10,682 shares valued at approximately $303,000 during the second quarter.
• Institutional investors now own 91.79% of Caesars Entertainment's stock, with significant increases in holdings from firms like Assenagon Asset Management and DAVENPORT & Co LLC.
• Caesars Entertainment reported a quarterly earnings miss with ($0.39) EPS, which was below analysts' expectations of $0.07, despite revenue of $2.91 billion exceeding estimates of $2.85 billion.

GC Wealth Management RIA LLC purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,682 shares of the company's stock, valued at approximately $303,000.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Caesars Entertainment by 103.5% during the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company's stock valued at $4,719,000 after acquiring an additional 84,545 shares during the last quarter. DAVENPORT & Co LLC raised its stake 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 valued at $87,399,000 after acquiring an additional 3,192,224 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Caesars Entertainment by 14.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after acquiring an additional 1,360 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Caesars Entertainment during the first quarter valued at $540,000. Finally, HG Vora Capital Management LLC raised its stake in shares of Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company's stock valued at $97,500,000 after acquiring an additional 1,650,000 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Trading Down 4.0%

NASDAQ:CZR opened at $25.95 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of -28.21 and a beta of 2.38. The firm has a fifty day simple moving average of $26.12 and a two-hundred day simple moving average of $27.14. 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 posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) earnings per share. Analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CZR shares. Stifel Nicolaus raised their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. JMP Securities decreased their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set a "market outperform" rating for the company in a research report on Tuesday, September 16th. Macquarie decreased their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Cfra reiterated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

Caesars Entertainment Company 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.

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