Suvretta Capital Management LLC Takes Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Suvretta Capital Management LLC acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 772,412 shares of the company's stock, valued at approximately $25,814,000. Suvretta Capital Management LLC owned approximately 0.36% of Caesars Entertainment at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Caesars Entertainment by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock worth $780,854,000 after purchasing an additional 100,263 shares in the last quarter. Capital Research Global Investors lifted its holdings in Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after buying an additional 2,555,876 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock worth $487,265,000 after acquiring an additional 1,882,728 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Caesars Entertainment by 41.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company's stock valued at $122,274,000 after acquiring an additional 1,065,506 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded down $0.16 during midday trading on Tuesday, reaching $29.41. 3,489,224 shares of the company were exchanged, compared to its average volume of 4,938,940. The stock has a market cap of $6.12 billion, a P/E ratio of -17.61 and a beta of 2.51. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The stock has a fifty day simple moving average of $27.02 and a 200 day simple moving average of $32.43. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

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

Analyst Ratings Changes

CZR has been the topic of several recent analyst reports. Truist Financial dropped their price target on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. TD Cowen lowered their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Susquehanna lifted their price target on shares of Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays upped their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caesars Entertainment has an average rating of "Moderate Buy" and a consensus price target of $43.77.

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.