442,295 Shares in Caesars Entertainment, Inc. (NASDAQ:CZR) Bought by Long Pond Capital LP

Long Pond Capital LP bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 442,295 shares of the company’s stock, valued at approximately $14,781,000. Caesars Entertainment comprises 0.7% of Long Pond Capital LP’s investment portfolio, making the stock its 24th largest holding. Long Pond Capital LP owned about 0.21% of Caesars Entertainment as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CZR. Bogart Wealth LLC raised its holdings in Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 800 shares during the period. FIL Ltd acquired a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $28,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $44,000. Canada Post Corp Registered Pension Plan acquired a new position in Caesars Entertainment in the 4th quarter worth approximately $71,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Caesars Entertainment during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CZR. JPMorgan Chase & Co. reduced their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Truist Financial reduced their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. JMP Securities lowered their target price on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Barclays reduced their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.71.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $24.75 on Thursday. The business’s 50-day simple moving average is $29.70 and its 200-day simple moving average is $35.09. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -14.82 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal 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.