XTX Topco Ltd Purchases Shares of 76,585 Caesars Entertainment, Inc. (NASDAQ:CZR)

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 shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,585 shares of the company's stock, valued at approximately $1,915,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. raised its stake in 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 buying an additional 405 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock worth $291,000 after buying an additional 500 shares in the last quarter. Contrarian Capital Management L.L.C. raised its stake in 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 worth $3,944,000 after buying an additional 500 shares in the last quarter. Fifth Lane Capital LP raised its stake in Caesars Entertainment by 6.3% in the fourth quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock worth $284,000 after buying an additional 500 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 worth $608,000 after buying an additional 549 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CZR shares. Stifel Nicolaus raised their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday. Susquehanna reduced their price objective on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday. 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 research report on Wednesday. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.53.

Caesars Entertainment Price Performance

NASDAQ CZR traded down $1.00 on Friday, reaching $25.68. The company had a trading volume of 7,822,694 shares, compared to its average volume of 5,481,769. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $5.34 billion, a PE ratio of -27.91 and a beta of 2.40. The firm's 50 day moving average price is $28.37 and its 200 day moving average price is $29.58. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued 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 return on equity of 4.55% and a negative net margin of 1.71%. The business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period in the previous year, the business earned ($0.56) earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.