Korea Investment CORP Takes $875,000 Position in Caesars Entertainment, Inc. $CZR

Key Points

• Korea Investment CORP purchased 35,000 shares of Caesars Entertainment, valued at approximately $875,000, in the first quarter of 2023.
• Caesars Entertainment reported a quarterly loss of ($0.39) EPS, missing the consensus estimate of $0.07, with revenues of $2.91 billion surpassing expectations.
• The stock currently has an average rating of "Moderate Buy" among analysts, with a consensus target price of $42.47.

Korea Investment CORP purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,000 shares of the company's stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CZR. Mather Group LLC. lifted its holdings in Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Allworth Financial LP lifted its holdings in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after acquiring an additional 662 shares during the last quarter. Bogart Wealth LLC lifted its holdings in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after acquiring an additional 700 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after acquiring an additional 477 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after acquiring an additional 800 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Cfra reissued a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Friday, July 11th. 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 report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Barclays cut their price objective on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. One equities research 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, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Stock Down 1.8%

Shares of CZR traded down $0.48 during trading hours on Friday, reaching $26.77. The company's stock had a trading volume of 5,572,627 shares, compared to its average volume of 6,110,991. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -29.10 and a beta of 2.40. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year 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. The company has a 50 day moving average of $27.79 and a two-hundred day moving average of $28.26.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) EPS. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.