Jump Financial LLC Increases Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• Jump Financial LLC significantly increased its stake in Caesars Entertainment by 468.2% in the first quarter, holding shares valued at approximately $2.54 million.
• Several institutional investors have also increased their positions in Caesars, contributing to the fact that 91.79% of the company's stock is now held by institutional investors.
• Caesars Entertainment reported a net loss per share of ($0.39) for the last quarter, falling short of the expected earnings, despite generating revenue of $2.91 billion.

Jump Financial LLC boosted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 468.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,529 shares of the company's stock after purchasing an additional 83,660 shares during the period. Jump Financial LLC's holdings in Caesars Entertainment were worth $2,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CZR. Mather Group LLC. grew its stake in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Caesars Entertainment by 35.8% in 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 last quarter. Fifth Lane Capital LP grew its stake in shares of Caesars Entertainment by 6.3% in the fourth quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock worth $284,000 after purchasing an additional 500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caesars Entertainment by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,207 shares of the company's stock worth $608,000 after purchasing an additional 549 shares during the last quarter. Finally, American Trust boosted its position in Caesars Entertainment by 8.7% during the 4th quarter. American Trust now owns 7,505 shares of the company's stock valued at $251,000 after acquiring an additional 601 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CZR. JPMorgan Chase & Co. lifted their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Barclays cut their price objective on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JMP Securities cut their price objective 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. Susquehanna cut their price objective on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Finally, The Goldman Sachs Group began coverage on Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Down 1.8%

Shares of CZR stock traded down $0.48 during trading hours on Friday, hitting $26.77. 5,572,627 shares of the company's stock traded hands, compared to its average volume of 6,110,991. The stock's fifty day simple moving average is $27.79 and its two-hundred day simple moving average is $28.26. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of -29.10 and a beta of 2.40. 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 earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the business posted ($0.56) earnings per share. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS 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.