Entropy Technologies LP Buys New Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Entropy Technologies LP purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the 3rd quarter, Holdings Channel reports. The fund purchased 31,144 shares of the company’s stock, valued at approximately $1,300,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Caesars Entertainment by 0.3% during the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after purchasing an additional 75,898 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Caesars Entertainment by 26.9% in the first 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 during the period. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after buying an additional 233,250 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Caesars Entertainment by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after acquiring an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP increased its holdings in Caesars Entertainment by 340.0% in the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after acquiring an additional 1,700,000 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CZR shares. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Macquarie reiterated an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Morgan Stanley increased their target price on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group lowered their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One equities research 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, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $39.30 on Thursday. The firm has a fifty day simple moving average of $41.53 and a two-hundred day simple moving average of $38.27. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $8.35 billion, a P/E ratio of -23.53 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) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The company’s revenue was down 4.0% on a year-over-year basis. On average, analysts expect that Caesars Entertainment, Inc. will post -0.54 earnings per share for the current fiscal year.

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.