Pekin Hardy Strauss Inc. Boosts Position in Caesars Entertainment, Inc. $CZR

Key Points

• Pekin Hardy Strauss increased its stake in Caesars Entertainment by 14.9% in Q4, owning 304,093 shares after buying 39,435 more (worth about $7.11 million).
• Caesars posted a quarterly EPS miss of ($0.48) versus ($0.19) expected while revenue rose to $2.87 billion, leaving the company with negative margins and street expectations of about -0.12 EPS for the year.
• Institutional activity is notable—Goldman Sachs doubled its position to ~1.6 million shares and hedge funds own 91.79% of the stock; CZR trades near $27.31 with an average analyst rating of Hold and a consensus target of $32.93.

Pekin Hardy Strauss Inc. grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,093 shares of the company's stock after purchasing an additional 39,435 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.15% of Caesars Entertainment worth $7,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CZR. AQR Capital Management LLC increased its position in shares of Caesars Entertainment by 47.7% during the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company's stock valued at $953,000 after purchasing an additional 12,698 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company's stock valued at $496,000 after purchasing an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Caesars Entertainment by 106.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company's stock valued at $39,982,000 after purchasing an additional 826,356 shares during the last quarter. Woodline Partners LP increased its position in shares of Caesars Entertainment by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company's stock valued at $449,000 after purchasing an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Caesars Entertainment by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company's stock valued at $12,665,000 after purchasing an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Trading Down 2.6%

Shares of NASDAQ:CZR opened at $27.31 on Wednesday. The stock has a 50 day moving average of $26.09 and a 200 day moving average of $23.56. The company has a market cap of $5.56 billion, a PE ratio of -11.24 and a beta of 1.87. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company earned ($0.54) earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

CZR has been the subject of several research reports. TD Cowen reaffirmed a "buy" rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Morgan Stanley upped their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Zacks Research raised shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Jefferies Financial Group boosted their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the company a "hold" rating in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded Caesars Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caesars Entertainment has an average rating of "Hold" and a consensus target price of $32.93.

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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