Wolverine Asset Management LLC Decreases Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• Wolverine Asset Management LLC has decreased its stake in Caesars Entertainment by 71.5%, selling 248,000 shares and reducing its holdings to 98,692 shares worth approximately $2.47 million.
• Caesars Entertainment reported a quarterly loss with an EPS of ($0.39), missing expectations, but showed slight revenue growth to $2.91 billion compared to analysts' forecasts.
• The company's stock has a one-year range of $21.40 to $45.93 and currently holds an average rating of "Moderate Buy" with a price target of $42.47 from research analysts.

Wolverine Asset Management LLC reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 71.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,692 shares of the company's stock after selling 248,000 shares during the quarter. Wolverine Asset Management LLC's holdings in Caesars Entertainment were worth $2,467,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CZR. Mather Group LLC. grew its holdings 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 valued at $26,000 after acquiring an additional 405 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock valued at $291,000 after acquiring an additional 500 shares in the last quarter. Contrarian Capital Management L.L.C. grew its holdings in shares of Caesars Entertainment by 0.4% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company's stock valued at $3,944,000 after acquiring an additional 500 shares in the last quarter. Fifth Lane Capital LP grew its holdings in shares of Caesars Entertainment by 6.3% in the fourth quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock valued at $284,000 after acquiring an additional 500 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Caesars Entertainment by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,207 shares of the company's stock valued at $608,000 after acquiring an additional 549 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed 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. Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Friday, July 11th. 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. JMP Securities reduced their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Price Performance

NASDAQ CZR traded up $0.64 during trading hours on Tuesday, reaching $24.64. 7,425,475 shares of the stock traded hands, compared to its average volume of 5,578,530. The stock has a 50 day simple moving average of $28.04 and a two-hundred day simple moving average of $29.12. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $5.12 billion, a price-to-earnings ratio of -26.78 and a beta of 2.40.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion during 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.56) EPS. On average, analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.