Strs Ohio Buys Shares of 581,385 Caesars Entertainment, Inc. $CZR

Key Points

• Strs Ohio has acquired 581,385 shares of Caesars Entertainment, valued at approximately $14.5 million, increasing its ownership to 0.28% of the company.
• Caesars Entertainment reported a loss of ($0.39) EPS for the latest quarter, which missed analysts' expectations, despite revenue rising to $2.91 billion.
• Several analysts have adjusted their ratings and target prices for Caesars, with a consensus price target of $42.47, indicating a potential for growth despite recent share price fluctuations.

Strs Ohio bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 581,385 shares of the company's stock, valued at approximately $14,535,000. Strs Ohio owned about 0.28% of Caesars Entertainment as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its holdings in shares of Caesars Entertainment by 1,051.1% during the 1st 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. Allspring Global Investments Holdings LLC grew its position in Caesars Entertainment by 14.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after buying an additional 1,360 shares during the period. GSA Capital Partners LLP purchased a new position in Caesars Entertainment in the first quarter valued at $540,000. HG Vora Capital Management LLC raised its position in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company's stock worth $97,500,000 after acquiring an additional 1,650,000 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Caesars Entertainment during the 1st quarter worth about $30,148,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CZR. Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. JMP Securities cut their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 30th. Truist Financial decreased their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Cfra restated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Price Performance

CZR stock traded up $0.81 during midday trading on Monday, reaching $25.90. The stock had a trading volume of 5,632,486 shares, compared to its average volume of 5,449,453. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The company's fifty day simple moving average is $27.05 and its 200 day simple moving average is $27.32. The company has a market cap of $5.39 billion, a price-to-earnings ratio of -28.15 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued 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). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. Caesars Entertainment's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.56) earnings per share. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal 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.