Caesars Entertainment, Inc. (NASDAQ:CZR) is Engine Capital Management LP’s 6th Largest Position

Engine Capital Management LP grew its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 849,090 shares of the company’s stock after purchasing an additional 70,000 shares during the quarter. Caesars Entertainment comprises approximately 6.3% of Engine Capital Management LP’s investment portfolio, making the stock its 6th biggest holding. Engine Capital Management LP owned about 0.39% of Caesars Entertainment worth $33,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CZR. Bank of Montreal Can increased its stake in Caesars Entertainment by 451.6% during the 2nd quarter. Bank of Montreal Can now owns 1,017,484 shares of the company’s stock valued at $40,577,000 after purchasing an additional 833,039 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Caesars Entertainment by 65.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,166 shares of the company’s stock worth $325,000 after acquiring an additional 3,224 shares during the last quarter. Atlas Merchant Capital LLC acquired a new stake in Caesars Entertainment during the 2nd quarter worth about $994,000. Hood River Capital Management LLC grew its stake in Caesars Entertainment by 7.2% during the 2nd quarter. Hood River Capital Management LLC now owns 1,075,824 shares of the company’s stock valued at $42,753,000 after purchasing an additional 72,196 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Caesars Entertainment by 28.0% in the second quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock valued at $5,719,000 after purchasing an additional 31,500 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CZR. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Susquehanna reiterated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Stifel Nicolaus upped their target price on Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley reduced their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, JMP Securities lifted their target price on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Caesars Entertainment Stock Performance

CZR opened at $41.40 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The firm’s 50-day moving average price is $37.05 and its 200 day moving average price is $37.85. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The firm has a market capitalization of $8.96 billion, a PE ratio of 11.73 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share (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 analyst estimates of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. Caesars Entertainment’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post 0.06 EPS for the current fiscal 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.