76,585 Shares in Caesars Entertainment, Inc. (NASDAQ:CZR) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has invested approximately $1.92 million in Caesars Entertainment, acquiring 76,585 shares in the first quarter.
• Caesars Entertainment's stock is currently experiencing a downturn, down 2.0% as it opened at $27.89 with a market cap of $5.80 billion.
• Despite missing earnings expectations last quarter, revenue increased by 2.7% year-over-year, with analysts projecting earnings per share for the current fiscal year to be -0.77.

XTX Topco Ltd acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 76,585 shares of the company's stock, valued at approximately $1,915,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. Cannell Capital LLC acquired a new stake in shares of Caesars Entertainment during the 4th quarter worth $13,498,000. Russell Investments Group Ltd. grew its holdings in shares of Caesars Entertainment by 5.0% during the 4th quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock worth $26,840,000 after purchasing an additional 38,505 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Caesars Entertainment during the 4th quarter worth $504,000. Khrom Capital Management LLC acquired a new stake in shares of Caesars Entertainment during the 4th quarter worth $16,191,000. Finally, DAVENPORT & Co LLC grew 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 worth $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 0.2%

NASDAQ CZR traded down $0.05 during trading hours on Monday, hitting $25.64. 2,050,209 shares of the company's stock were exchanged, compared to its average volume of 5,501,322. The stock has a 50-day simple moving average of $28.37 and a 200 day simple moving average of $29.53. 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 -27.79 and a beta of 2.40. 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) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the business posted ($0.56) EPS. The company's revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CZR shares. The Goldman Sachs Group started coverage on Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective for the company. Cfra reiterated a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. Barclays dropped their target price on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. JMP Securities dropped their target price 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. Finally, Truist Financial dropped their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and an average price target of $42.53.

About Caesars Entertainment

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.