Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,455,564 shares of the company’s stock after selling 604,901 shares during the quarter. Caesars Entertainment comprises about 17.6% of Wolf Hill Capital Management LP’s portfolio, making the stock its biggest holding. Wolf Hill Capital Management LP owned about 2.06% of Caesars Entertainment worth $177,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of CZR. Vanguard Group Inc. raised its holdings in shares of Caesars Entertainment by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares during the period. Capital Research Global Investors lifted its position in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares in the last quarter. Capital World Investors boosted its stake in shares of Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after purchasing an additional 233,250 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after buying an additional 1,515,763 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $41.45 on Friday. The stock’s 50-day moving average is $37.00 and its two-hundred day moving average is $37.90. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. 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 $8.97 billion, a price-to-earnings ratio of 11.74 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. Analysts predict that Caesars Entertainment, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JMP Securities raised their price target on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research report on Thursday, August 22nd. Jefferies Financial Group cut their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Susquehanna restated a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $54.14.

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.