Khrom Capital Management LLC Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Khrom Capital Management LLC bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 484,485 shares of the company's stock, valued at approximately $16,191,000. Caesars Entertainment accounts for approximately 1.8% of Khrom Capital Management LLC's holdings, making the stock its 16th largest position. Khrom Capital Management LLC owned about 0.23% of Caesars Entertainment at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. Hsbc Holdings PLC raised its holdings in shares of Caesars Entertainment by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 308,386 shares of the company's stock worth $10,272,000 after buying an additional 44,672 shares in the last quarter. Soros Capital Management LLC lifted its holdings in Caesars Entertainment by 20.8% during the 4th quarter. Soros Capital Management LLC now owns 112,220 shares of the company's stock valued at $3,750,000 after purchasing an additional 19,294 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Caesars Entertainment by 30.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,579 shares of the company's stock worth $587,000 after purchasing an additional 4,069 shares during the last quarter. MYDA Advisors LLC increased its position in Caesars Entertainment by 64.8% in the fourth quarter. MYDA Advisors LLC now owns 187,862 shares of the company's stock worth $6,278,000 after purchasing an additional 73,862 shares during the period. Finally, Mesirow Institutional Investment Management Inc. lifted its position in Caesars Entertainment by 20.9% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 88,741 shares of the company's stock valued at $2,966,000 after purchasing an additional 15,337 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.75 during midday trading on Friday, hitting $27.92. 386,724 shares of the company traded hands, compared to its average volume of 4,878,282. The stock has a 50-day moving average of $28.33 and a 200-day moving average of $34.39. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm has a market cap of $5.92 billion, a P/E ratio of -16.74 and a beta of 2.67. 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 (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on CZR shares. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their price target on Caesars Entertainment from $54.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday. Susquehanna dropped their target price on shares of Caesars Entertainment from $30.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial lowered their price objective on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.86.

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.