Park West Asset Management LLC Decreases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Park West Asset Management LLC lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 20.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,082,452 shares of the company's stock after selling 272,901 shares during the quarter. Caesars Entertainment comprises about 2.9% of Park West Asset Management LLC's holdings, making the stock its 17th biggest holding. Park West Asset Management LLC owned about 0.51% of Caesars Entertainment worth $36,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC lifted its stake in Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company's stock worth $28,000 after acquiring an additional 800 shares during the last quarter. FIL Ltd purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth $28,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth $44,000. Canada Pension Plan Investment Board grew its stake in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock worth $53,000 after purchasing an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Caesars Entertainment in the fourth quarter valued at $71,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Wall Street Analyst Weigh In

CZR has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. Macquarie reduced their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average price target of $45.64.

Caesars Entertainment Stock Performance

CZR traded up $0.60 on Friday, hitting $27.80. 4,963,429 shares of the company traded hands, compared to its average volume of 4,898,897. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. The company has a 50 day moving average of $27.25 and a 200-day moving average of $33.70. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $5.90 billion, a PE ratio of -16.65 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.73) earnings per share. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.