Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Bought by Venator Management LLC

Venator Management LLC increased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 13.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 291,630 shares of the company’s stock after buying an additional 34,300 shares during the quarter. Caesars Entertainment comprises 3.5% of Venator Management LLC’s portfolio, making the stock its 11th largest position. Venator Management LLC owned about 0.13% of Caesars Entertainment worth $11,589,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in Caesars Entertainment by 42.7% during the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after purchasing an additional 145,201 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Caesars Entertainment by 10.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,034 shares of the company’s stock valued at $677,000 after acquiring an additional 1,628 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Caesars Entertainment by 25.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 9,198 shares of the company’s stock worth $366,000 after acquiring an additional 1,841 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Caesars Entertainment by 54.9% in the second quarter. Amalgamated Bank now owns 69,835 shares of the company’s stock worth $2,775,000 after acquiring an additional 24,757 shares in the last quarter. Finally, Highland Peak Capital LLC boosted its holdings in Caesars Entertainment by 215.0% in the second quarter. Highland Peak Capital LLC now owns 619,987 shares of the company’s stock valued at $24,638,000 after purchasing an additional 423,170 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley cut their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus raised their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JMP Securities boosted their target price on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Finally, 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 research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Caesars Entertainment Price Performance

Shares of CZR opened at $40.27 on Thursday. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $51.24. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The stock has a fifty day moving average price of $36.85 and a 200 day moving average price of $37.86. The company has a market cap of $8.72 billion, a P/E ratio of 11.41 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.68). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. On average, research analysts forecast that Caesars Entertainment, Inc. will post 0.06 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.