Caesars Entertainment, Inc. (NASDAQ:CZR) Stake Lowered by SCP Investment LP

SCP Investment LP lessened its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900,000 shares of the company’s stock after selling 25,000 shares during the quarter. Caesars Entertainment accounts for approximately 27.3% of SCP Investment LP’s holdings, making the stock its biggest position. SCP Investment LP owned approximately 0.42% of Caesars Entertainment worth $37,566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Caesars Entertainment by 26.9% during the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after buying an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP boosted its position in shares of Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Caesars Entertainment by 35.4% in the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after purchasing an additional 1,418,318 shares during the period. Finally, Helikon Investments Ltd purchased a new position in shares of Caesars Entertainment during the 2nd quarter valued at $37,763,000. Institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group reduced their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a research note on Monday, October 14th. Finally, StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Trading Up 2.3 %

Shares of CZR stock opened at $37.38 on Wednesday. The firm’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $38.32. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $50.51. The firm has a market cap of $7.94 billion, a P/E ratio of -22.38 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.54 EPS for the current year.

Caesars Entertainment Company 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.