Maverick Capital Ltd. Purchases New Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Maverick Capital Ltd. purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 39,454 shares of the company's stock, valued at approximately $1,647,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in Caesars Entertainment by 42.7% in the second quarter. Hsbc Holdings PLC now owns 485,077 shares of the company's stock worth $19,148,000 after buying an additional 145,201 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Caesars Entertainment during the 3rd quarter worth $1,300,000. Comerica Bank raised its holdings in shares of Caesars Entertainment by 345.0% during the 1st quarter. Comerica Bank now owns 107,355 shares of the company's stock valued at $4,696,000 after purchasing an additional 83,231 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $903,000. Finally, Gabelli Funds LLC boosted its holdings in Caesars Entertainment by 28.0% in the second quarter. Gabelli Funds LLC now owns 143,900 shares of the company's stock worth $5,719,000 after purchasing an additional 31,500 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

CZR traded up $0.24 on Friday, hitting $38.49. 1,510,504 shares of the stock traded hands, compared to its average volume of 3,241,654. The business has a fifty day moving average price of $41.43 and a two-hundred day moving average price of $38.41. 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 firm has a market capitalization of $8.18 billion, a PE ratio of -23.05 and a beta of 2.96. Caesars Entertainment, Inc. has a 52 week low of $31.74 and a 52 week high of $50.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data 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 firm 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 business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, research analysts predict that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CZR. JMP Securities reduced their price target on Caesars Entertainment from $59.00 to $57.00 and set a "market outperform" rating for the company in a research report on Monday, November 25th. Stifel Nicolaus boosted 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. JPMorgan Chase & Co. increased their price target on Caesars Entertainment from $54.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.86.

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.