SCP Investment LP decreased its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 900,000 shares of the company's stock after selling 25,000 shares during the quarter. Caesars Entertainment accounts for approximately 27.3% of SCP Investment LP's holdings, making the stock its biggest holding. SCP Investment LP owned 0.42% of Caesars Entertainment worth $37,566,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Caesars Entertainment by 56.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 32,424 shares of the company's stock valued at $1,353,000 after acquiring an additional 11,665 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Caesars Entertainment during the 3rd quarter worth approximately $2,998,000. LMR Partners LLP acquired a new stake in Caesars Entertainment during the 3rd quarter worth approximately $903,000. Quest Partners LLC grew its stake in shares of Caesars Entertainment by 528,000.0% during the 3rd quarter. Quest Partners LLC now owns 5,281 shares of the company's stock worth $220,000 after acquiring an additional 5,280 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Caesars Entertainment by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 30,217 shares of the company's stock worth $1,261,000 after acquiring an additional 2,263 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.
Caesars Entertainment Stock Up 0.6 %
Caesars Entertainment stock traded up $0.21 during mid-day trading on Wednesday, hitting $37.59. The company had a trading volume of 2,317,948 shares, compared to its average volume of 4,146,445. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock's 50 day moving average price is $41.60 and its two-hundred day moving average price is $38.32. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. The company has a market capitalization of $7.99 billion, a PE ratio of -22.38 and a beta of 2.96.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.25). The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.54 earnings per share for the current fiscal year.
Analysts Set New Price Targets
CZR has been the subject of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $59.00 target price on shares of Caesars Entertainment in a report on Monday, October 14th. Susquehanna reiterated a "negative" rating and issued a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Stifel Nicolaus increased their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Macquarie reiterated an "outperform" rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.00.
View Our Latest Stock Analysis on Caesars Entertainment
Caesars Entertainment Company Profile
(
Free Report)
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.
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