Helikon Investments Ltd Reduces Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Helikon Investments Ltd cut its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,164,049 shares of the company’s stock after selling 250,498 shares during the quarter. Caesars Entertainment makes up approximately 2.2% of Helikon Investments Ltd’s holdings, making the stock its 12th largest holding. Helikon Investments Ltd’s holdings in Caesars Entertainment were worth $29,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CZR. Mather Group LLC. grew its position in shares of Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock worth $26,000 after acquiring an additional 405 shares in the last quarter. FIL Ltd acquired a new stake in Caesars Entertainment in the 4th quarter valued at about $28,000. Allworth Financial LP lifted its holdings in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after acquiring an additional 662 shares during the last quarter. Bogart Wealth LLC raised its position in shares of Caesars Entertainment by 82.8% during the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company’s stock worth $39,000 after purchasing an additional 700 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Caesars Entertainment during the fourth quarter worth $44,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CZR has been the subject of a number of recent research reports. Truist Financial cut their price target on Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Macquarie decreased their target price on Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Citigroup restated a “market outperform” rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Cfra restated a “hold” rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Stifel Nicolaus increased their target price on Caesars Entertainment from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.47.

Caesars Entertainment Trading Down 0.4%

Shares of CZR opened at $24.04 on Friday. The stock has a 50 day simple moving average of $28.09 and a 200-day simple moving average of $29.26. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The stock has a market cap of $5.00 billion, a PE ratio of -26.13 and a beta of 2.40. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned ($0.56) earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.