UniSuper Management Pty Ltd Raises Position in Caesars Entertainment, Inc. $CZR

Key Points

• UniSuper Management Pty Ltd increased its stake in Caesars Entertainment, Inc. by 29.7% during Q1, bringing its total shares to 56,715, valued at approximately $1.42 million.
• Several other institutional investors also significantly raised their stakes in Caesars, with Mather Group LLC increasing by 64.4% and Allworth Financial LP by 97.8% in the same quarter.
• Wall Street analysts have mixed ratings on Caesars' stock, with a consensus rating of "Moderate Buy" and an average target price of $42.47; however, the company reported a loss of $0.39 earnings per share for the last quarter.

UniSuper Management Pty Ltd raised its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,715 shares of the company's stock after purchasing an additional 12,991 shares during the quarter. UniSuper Management Pty Ltd's holdings in Caesars Entertainment were worth $1,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CZR. Mather Group LLC. raised its stake in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the last quarter. Allworth Financial LP raised its stake in shares of Caesars Entertainment by 97.8% in the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after purchasing an additional 662 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of Caesars Entertainment by 82.8% in the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after purchasing an additional 700 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Caesars Entertainment by 35.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after purchasing an additional 477 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Caesars Entertainment by 99.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock worth $79,000 after purchasing an additional 1,572 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CZR shares. Truist Financial reduced their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Friday, July 11th. The Goldman Sachs Group started coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Macquarie decreased their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $25.63 on Thursday. The stock has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $27.59. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -27.86 and a beta of 2.24. 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 (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company posted ($0.56) earnings per share. Caesars Entertainment's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.

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