Venator Management LLC Acquires 9,925 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Venator Management LLC increased its stake in Caesars Entertainment by 2.5% in Q1, owning 414,290 shares valued at approximately $10.36 million, which represents 3.1% of its investment portfolio.
• Analysts recently adjusted price targets for Caesars Entertainment, with JPMorgan raising its target from $47 to $48, while Morgan Stanley lowered it from $32 to $31.
• Caesars Entertainment reported a loss of ($0.39) earnings per share for the last quarter, missing estimates but showing year-over-year revenue growth of 2.7% with $2.91 billion in total revenue.

Venator Management LLC increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 414,290 shares of the company's stock after acquiring an additional 9,925 shares during the quarter. Caesars Entertainment comprises 3.1% of Venator Management LLC's portfolio, making the stock its 12th biggest holding. Venator Management LLC owned 0.20% of Caesars Entertainment worth $10,357,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its holdings in shares of Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Allworth Financial LP grew its holdings in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after buying an additional 662 shares in the last quarter. Bogart Wealth LLC grew its holdings in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after buying an additional 700 shares in the last quarter. Resona Asset Management Co. Ltd. grew its holdings in Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after buying an additional 477 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after buying an additional 800 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded down $0.21 during trading on Tuesday, reaching $26.55. 2,034,332 shares of the company traded hands, compared to its average volume of 5,558,146. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The firm has a market capitalization of $5.52 billion, a PE ratio of -28.85 and a beta of 2.40. The company's 50 day moving average is $27.85 and its two-hundred day moving average is $28.41.

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 return on equity of 4.55% and a negative net margin of 1.71%.The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the company earned ($0.56) earnings per share. Caesars Entertainment's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CZR shares. Truist Financial decreased their price objective on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. JMP Securities decreased their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 30th. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Cfra reaffirmed a "hold" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. Finally, 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 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Caesars Entertainment has an average rating of "Moderate Buy" and a consensus price target of $42.47.

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.