Maverick Capital Ltd. Invests $674,000 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 stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,975 shares of the company's stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CZR. DAVENPORT & Co LLC raised its position in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after buying an additional 3,192,224 shares in the last quarter. Hein Park Capital Management LP acquired a new position in shares of Caesars Entertainment in the 1st quarter valued at approximately $60,492,000. BNP Paribas Financial Markets acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at approximately $57,629,000. Royal Bank of Canada grew its holdings in shares of Caesars Entertainment by 477.7% during the 1st quarter. Royal Bank of Canada now owns 1,833,567 shares of the company's stock valued at $45,839,000 after purchasing an additional 1,516,153 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Caesars Entertainment by 3,673.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock valued at $46,389,000 after purchasing an additional 1,351,286 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Up 2.3%

NASDAQ:CZR traded up $0.59 during mid-day trading on Friday, hitting $26.34. 6,346,343 shares of the company's stock were exchanged, compared to its average volume of 5,502,811. The company has a 50 day simple moving average of $27.50 and a 200-day simple moving average of $27.68. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The firm has a market capitalization of $5.48 billion, a P/E ratio of -28.63 and a beta of 2.24.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CZR. Macquarie decreased their price target on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Morgan Stanley dropped their price target on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

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.