Appaloosa LP Raises Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Appaloosa LP increased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Caesars Entertainment accounts for approximately 1.1% of Appaloosa LP's portfolio, making the stock its 25th largest position. Appaloosa LP owned approximately 1.04% of Caesars Entertainment worth $73,524,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company's stock valued at $526,309,000 after acquiring an additional 1,983,151 shares during the period. Assenagon Asset Management S.A. increased its stake in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company's stock valued at $71,536,000 after purchasing an additional 1,697,443 shares in the last quarter. Bamco Inc. NY acquired a new position in Caesars Entertainment during the third quarter worth $61,890,000. ING Groep NV bought a new position in shares of Caesars Entertainment in the fourth quarter valued at $35,797,000. Finally, Progeny 3 Inc. acquired a new position in shares of Caesars Entertainment during the third quarter valued at about $37,649,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CZR shares. Susquehanna raised shares of Caesars Entertainment from a "negative" rating to a "neutral" rating and set a $30.00 price target on the stock in a research report on Thursday, March 6th. JMP Securities cut their target price on Caesars Entertainment from $57.00 to $53.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group lowered their price target on Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Truist Financial decreased their price target on Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, TD Cowen dropped their price target on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.43.

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Caesars Entertainment Stock Performance

NASDAQ CZR traded up $0.01 during trading on Monday, hitting $28.08. 5,735,117 shares of the company's stock traded hands, compared to its average volume of 4,311,146. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -16.81 and a beta of 2.97. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The business has a 50 day moving average of $33.82 and a 200-day moving average of $37.25. Caesars Entertainment, Inc. has a 12-month low of $26.42 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. As a group, equities research analysts anticipate 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.