Caesars Entertainment, Inc. $CZR Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 149.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the company’s stock after acquiring an additional 1,175 shares during the quarter. Parallel Advisors LLC’s holdings in Caesars Entertainment were worth $56,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CZR. DAVENPORT & Co LLC boosted its holdings in Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock worth $87,399,000 after buying an additional 3,192,224 shares in the last quarter. Hein Park Capital Management LP purchased a new stake in Caesars Entertainment during the first quarter worth about $60,492,000. HG Vora Capital Management LLC boosted its holdings in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock worth $97,500,000 after buying an additional 1,650,000 shares in the last quarter. Duquesne Family Office LLC purchased a new position in shares of Caesars Entertainment in the first quarter valued at $38,711,000. Finally, Royal Bank of Canada increased its position in shares of Caesars Entertainment by 477.7% in the first quarter. Royal Bank of Canada now owns 1,833,567 shares of the company’s stock valued at $45,839,000 after buying an additional 1,516,153 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $25.91 on Friday. The firm has a 50 day simple moving average of $26.36 and a 200-day simple moving average of $27.15. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $5.39 billion, a PE ratio of -28.16 and a beta of 2.24. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data 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). The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) EPS. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Barclays reduced their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Macquarie reduced their price target on shares of Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.33.

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.