Goldentree Asset Management LP Purchases Shares of 605,780 Caesars Entertainment, Inc. (NASDAQ:CZR)

Goldentree Asset Management LP acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 605,780 shares of the company’s stock, valued at approximately $25,285,000. Caesars Entertainment comprises about 2.0% of Goldentree Asset Management LP’s holdings, making the stock its 16th biggest holding. Goldentree Asset Management LP owned about 0.29% of Caesars Entertainment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CZR. Comerica Bank lifted its position in Caesars Entertainment by 345.0% in the first quarter. Comerica Bank now owns 107,355 shares of the company’s stock valued at $4,696,000 after acquiring an additional 83,231 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Caesars Entertainment by 26.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock valued at $1,173,000 after purchasing an additional 5,715 shares during the last quarter. American Trust boosted its position in shares of Caesars Entertainment by 4.5% in the 1st quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after purchasing an additional 313 shares during the period. GAMMA Investing LLC grew its stake in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after buying an additional 622 shares during the last quarter. Finally, DNB Asset Management AS increased its position in Caesars Entertainment by 12.5% during the second quarter. DNB Asset Management AS now owns 33,877 shares of the company’s stock worth $1,346,000 after buying an additional 3,753 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CZR shares. Macquarie restated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.86.

Caesars Entertainment Trading Down 1.1 %

NASDAQ:CZR opened at $38.25 on Friday. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. 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 stock has a fifty day moving average price of $41.49 and a two-hundred day moving average price of $38.38. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -22.90 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) 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 company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

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.