State of Wyoming Purchases New Position in Caesars Entertainment, Inc. $CZR

Key Points

• The State of Wyoming has acquired a new position in Caesars Entertainment, Inc., purchasing 17,351 shares valued at approximately $434,000.
• Caesars Entertainment reported a loss of $0.39 EPS for the most recent quarter, significantly missing analysts' expectations of a profit of $0.07.
• Most recent analyst ratings for Caesars Entertainment indicate a Moderate Buy with an average price target of $42.47.

State of Wyoming acquired a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,351 shares of the company's stock, valued at approximately $434,000.

Other hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC grew its holdings in shares of Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Caesars Entertainment during the fourth quarter valued at $57,629,000. Jefferies Financial Group Inc. lifted its position in Caesars Entertainment by 3,673.9% during the fourth 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. Invesco Ltd. grew its stake in shares of Caesars Entertainment by 22.9% in the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock worth $170,582,000 after buying an additional 1,269,911 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Caesars Entertainment in the 1st quarter worth about $30,148,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Down 1.8%

Shares of NASDAQ CZR opened at $26.77 on Friday. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The firm has a 50-day simple moving average of $27.79 and a two-hundred day simple moving average of $28.21. The company has a market cap of $5.57 billion, a P/E ratio of -29.10 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CZR. Barclays decreased their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective on the stock. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lifted their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Macquarie cut their target price on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. One 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.

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