Venator Management LLC Grows Stock Holdings in 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 raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,290 shares of the company's stock after acquiring an additional 9,925 shares during the quarter. Caesars Entertainment makes up 3.1% of Venator Management LLC's investment portfolio, making the stock its 12th largest position. Venator Management LLC owned 0.20% of Caesars Entertainment worth $10,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mather Group LLC. boosted its stake in Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares in the last quarter. Allworth Financial LP raised its position in 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 acquiring an additional 662 shares during the period. Bogart Wealth LLC boosted its stake in shares of Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after acquiring an additional 700 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after acquiring an additional 800 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its holdings in Caesars Entertainment by 35.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CZR shares. Morgan Stanley dropped their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. JMP Securities dropped their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Macquarie dropped their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.47.

Caesars Entertainment Stock Down 0.2%

NASDAQ:CZR opened at $25.22 on Thursday. The company has a market cap of $5.25 billion, a PE ratio of -27.41 and a beta of 2.40. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month 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 50 day moving average is $27.86 and its two-hundred day moving average is $28.71.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results 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). The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.56) EPS. Analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS 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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