Park West Asset Management LLC Cuts Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Park West Asset Management LLC cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 20.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,082,452 shares of the company’s stock after selling 272,901 shares during the quarter. Caesars Entertainment comprises approximately 2.9% of Park West Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Park West Asset Management LLC’s holdings in Caesars Entertainment were worth $36,176,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CZR. FIL Ltd acquired a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $28,000. Bogart Wealth LLC lifted its position in shares of Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Caesars Entertainment during the 4th quarter worth about $44,000. Canada Pension Plan Investment Board boosted its holdings in shares of Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after buying an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $71,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CZR shares. Barclays dropped their price objective on shares of Caesars Entertainment from $54.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. JMP Securities lowered their target price on Caesars Entertainment from $53.00 to $45.00 and set a “market outperform” rating on the stock in a report on Thursday, April 17th. Macquarie lowered their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. TD Cowen reduced their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial decreased their target price on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $45.86.

Caesars Entertainment Stock Down 1.3 %

Shares of Caesars Entertainment stock opened at $28.06 on Tuesday. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. 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 business’s 50 day simple moving average is $27.91 and its 200-day simple moving average is $34.04. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -16.80 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.