Los Angeles Capital Management LLC Makes New $741,000 Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Los Angeles Capital Management LLC bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,759 shares of the company's stock, valued at approximately $741,000.

Several other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in shares of Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company's stock worth $678,190,000 after buying an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP lifted its holdings in shares of Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company's stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Caesars Entertainment by 35.4% in the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company's stock valued at $253,651,000 after purchasing an additional 1,515,763 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company's stock worth $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new position in shares of Caesars Entertainment during the 2nd quarter worth approximately $37,763,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

NASDAQ:CZR traded down $1.95 during midday trading on Friday, hitting $37.04. 5,913,172 shares of the stock were exchanged, compared to its average volume of 4,157,347. The business has a 50-day moving average price of $41.57 and a two-hundred day moving average price of $38.27. 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 company has a market capitalization of $7.87 billion, a price-to-earnings ratio of -22.18 and a beta of 2.96. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment's revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna restated a "negative" rating and issued a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price target on Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.00.

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.