Penn Capital Management Company LLC Buys 38,589 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Penn Capital Management raised its stake in Caesars Entertainment (CZR) by 6.9% in Q3, buying 38,589 shares to hold 601,060 shares valued at about $16.28M, while institutional investors own roughly 91.79% of the company.
• Caesars missed EPS in its latest quarter, reporting ($1.23) versus the $0.18 consensus despite $2.92B in revenue, and the company shows a negative net margin (-4.37%) with a high debt-to-equity ratio (3.17).
• Stock and analyst outlook: CZR trades near $27.33 with a $5.56B market cap and a one-year range of $17.86–$31.58, and analysts have a "Moderate Buy" consensus with a $33.65 price target.

Penn Capital Management Company LLC raised its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 601,060 shares of the company's stock after purchasing an additional 38,589 shares during the quarter. Penn Capital Management Company LLC owned 0.29% of Caesars Entertainment worth $16,284,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. ING Groep NV raised its holdings in Caesars Entertainment by 80.2% in the 3rd quarter. ING Groep NV now owns 599,854 shares of the company's stock valued at $16,211,000 after acquiring an additional 266,917 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Caesars Entertainment by 56.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company's stock worth $45,953,000 after purchasing an additional 612,837 shares in the last quarter. LDR Capital Management LLC bought a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $1,172,000. Capital World Investors raised its stake in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC lifted its position in Caesars Entertainment by 31.6% in the third quarter. Villere ST Denis J & Co. LLC now owns 1,038,870 shares of the company's stock worth $28,075,000 after purchasing an additional 249,603 shares during the period. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Up 0.6%

NASDAQ CZR opened at $27.33 on Wednesday. The stock's 50 day simple moving average is $23.13 and its 200 day simple moving average is $23.31. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $31.58. The firm has a market cap of $5.56 billion, a PE ratio of -11.25 and a beta of 1.94. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CZR has been the topic of several analyst reports. Citizens Jmp lowered their price target on shares of Caesars Entertainment from $37.00 to $34.00 and set a "market outperform" rating on the stock in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Caesars Entertainment from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Stifel Nicolaus decreased their price objective on Caesars Entertainment from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. Finally, Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Caesars Entertainment has an average rating of "Moderate Buy" and a consensus price target of $33.65.

About Caesars Entertainment

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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