Jupiter Asset Management Ltd. Invests $33.27 Million in Caesars Entertainment, Inc. $CZR

Key Points

• Jupiter Asset Management disclosed a new fourth-quarter position in Caesars Entertainment, buying 1.42 million shares worth about $33.27 million and holding roughly 0.70% of the company.
• Caesars reported Q1 earnings below expectations, posting an EPS loss of $0.48 versus the $0.24 loss analysts expected, even as revenue came in slightly ahead of estimates at $2.87 billion.
• Investor attention is being driven by Caesars’ announced all-cash takeover by Fertitta Entertainment at $31 per share, which has prompted shareholder investigations and ongoing debate about whether the price is fair.

Jupiter Asset Management Ltd. bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,422,443 shares of the company's stock, valued at approximately $33,271,000. Jupiter Asset Management Ltd. owned approximately 0.70% of Caesars Entertainment at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CZR. Capital World Investors raised its holdings in shares of Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company's stock worth $437,622,000 after acquiring an additional 3,716,148 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company's stock worth $76,589,000 after purchasing an additional 2,490,924 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Caesars Entertainment by 35,370.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company's stock valued at $57,645,000 after purchasing an additional 2,457,570 shares in the last quarter. Ossiam lifted its position in Caesars Entertainment by 7,760.9% during the third quarter. Ossiam now owns 1,883,007 shares of the company's stock valued at $50,888,000 after purchasing an additional 1,859,053 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Caesars Entertainment by 315.1% during the third quarter. Alyeska Investment Group L.P. now owns 1,946,099 shares of the company's stock valued at $52,593,000 after purchasing an additional 1,477,284 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CZR. Morgan Stanley increased their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Barclays lowered their price objective on Caesars Entertainment from $39.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Truist Financial lifted their target price on Caesars Entertainment from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Citizens Jmp increased their price target on Caesars Entertainment from $34.00 to $35.00 and gave the company a "market outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $33.27.

Caesars Entertainment Stock Up 1.0%

Shares of NASDAQ:CZR opened at $29.08 on Friday. The firm has a market capitalization of $5.92 billion, a PE ratio of -12.27 and a beta of 1.77. The business has a 50 day simple moving average of $27.28 and a two-hundred day simple moving average of $24.49. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business posted ($0.54) earnings per share. Caesars Entertainment's revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.5 EPS for the current year.

Key Stories Impacting Caesars Entertainment

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Caesars confirmed a definitive agreement to be acquired by Fertitta Entertainment in an all-cash transaction, giving shareholders $31.00 per share and implying a large premium. Fertitta Entertainment Announces Definitive Agreement to Acquire Caesars Entertainment in $17.6 Billion Transaction
• Positive Sentiment: The deal price has sparked broad coverage of a major premium buyout, which is typically supportive for the target stock near the offer price. Caesars Entertainment to be bought by Fertitta Entertainment for $17.6 billion
• Neutral Sentiment: Several law firms have launched shareholder investigations into whether Caesars received a fair price, which could create headlines but does not change the announced terms. CZR Stock Alert: Halper Sadeh LLC is Investigating Whether Caesars Entertainment, Inc. is Obtaining a Fair Price for its Shareholders
• Neutral Sentiment: Analysts and market commentary are debating whether the buyout is fair, but the stock reaction is still being driven primarily by the cash takeover offer. Caesars Entertainment: Fertitta's Buyout Is Fair But Unrewarding

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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