Groupama Asset Managment Acquires Shares of 35,407 Caesars Entertainment, Inc. $CZR

Key Points

• Groupama Asset Management has made a new $909,000 investment in Caesars Entertainment, acquiring 35,407 shares of the company during the first quarter.
• Institutional ownership in Caesars Entertainment is high, with 91.79% of the company's stock held by institutional investors and hedge funds.
• Caesars reported a revenue of $2.91 billion for the last quarter, exceeding analysts' estimates, although it missed EPS expectations with a loss of ($0.39) per share.

Groupama Asset Managment purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 35,407 shares of the company's stock, valued at approximately $909,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in shares of 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 in the last quarter. Allworth Financial LP boosted its holdings in shares of Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after buying an additional 662 shares in the last quarter. Bogart Wealth LLC raised its position in shares of 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 purchasing an additional 700 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock worth $53,000 after purchasing an additional 800 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its position in shares of 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 purchasing an additional 477 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CZR. Cfra reaffirmed a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. JMP Securities lowered their target price 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. Finally, Macquarie lowered their target price 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. 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.47.

Caesars Entertainment Stock Up 7.0%

NASDAQ CZR traded up $1.75 on Friday, reaching $26.75. The company had a trading volume of 8,319,456 shares, compared to its average volume of 6,849,327. The stock has a market capitalization of $5.56 billion, a P/E ratio of -29.08 and a beta of 2.40. The company's fifty day moving average is $27.84 and its 200 day moving average is $28.52. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released 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 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 company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company 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.