Private Wealth Partners LLC Lowers Position in Caesars Entertainment, Inc. $CZR

Private Wealth Partners LLC lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,580 shares of the company’s stock after selling 54,182 shares during the period. Private Wealth Partners LLC’s holdings in Caesars Entertainment were worth $7,114,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CZR has been the topic of several recent research reports. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Cfra reiterated a “hold” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday, July 11th. Stifel Nicolaus reduced their price objective on Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Susquehanna reduced their price objective on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on Caesars Entertainment from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.80.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $22.55 on Tuesday. The firm has a market cap of $4.69 billion, a P/E ratio of -24.51 and a beta of 2.38. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.65. The business’s 50 day moving average price is $25.08 and its 200-day moving average price is $26.77. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR) last issued 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.Caesars Entertainment’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) earnings per share. On average, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.