Maverick Capital Ltd. Takes $674,000 Position in Caesars Entertainment, Inc. $CZR

Key Points

• Maverick Capital Ltd. has invested approximately $674,000 in Caesars Entertainment, Inc. by acquiring 26,975 shares during the first quarter.
• Several other institutional investors have also increased their holdings in Caesars Entertainment, with funds like Mather Group LLC boosting their position by 64.4%.
• Caesars Entertainment reported a (0.39) EPS for the most recent quarter, significantly missing analysts' expectations of $0.07 per share, despite achieving a revenue of $2.91 billion.

Maverick Capital Ltd. bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,975 shares of the company's stock, valued at approximately $674,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its holdings 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 valued at $26,000 after purchasing an additional 405 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Caesars Entertainment by 97.8% in the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after purchasing an additional 662 shares during the last quarter. Bogart Wealth LLC raised its holdings in shares of Caesars Entertainment by 82.8% in the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after purchasing an additional 700 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in 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 acquiring an additional 477 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in Caesars Entertainment during the fourth quarter worth $105,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CZR shares. Barclays dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Morgan Stanley reduced their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. increased their price target on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded up $0.59 on Friday, reaching $26.34. 6,346,343 shares of the company's stock were exchanged, compared to its average volume of 5,559,893. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -28.63 and a beta of 2.24. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The stock has a fifty day simple moving average of $27.50 and a 200-day simple moving average of $27.82.

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 for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.Caesars Entertainment's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.56) EPS. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.