Caesars Entertainment, Inc. (NASDAQ:CZR) is SCP Investment LP’s Largest Position

SCP Investment LP raised its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 25.4% in the 4th quarter, Holdings Channel reports. The fund owned 890,000 shares of the company’s stock after acquiring an additional 180,000 shares during the quarter. Caesars Entertainment accounts for approximately 35.2% of SCP Investment LP’s portfolio, making the stock its biggest position. SCP Investment LP’s holdings in Caesars Entertainment were worth $38,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $45,000. Wealthspire Advisors LLC purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $213,000. Charles Schwab Investment Management Inc. raised its stake in shares of Caesars Entertainment by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,165,196 shares of the company’s stock worth $101,504,000 after buying an additional 112,458 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Caesars Entertainment by 12.0% during the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after buying an additional 538 shares in the last quarter. Finally, Channing Capital Management LLC purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $7,776,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Up 3.0 %

Shares of CZR stock traded up $1.08 during mid-day trading on Thursday, hitting $37.30. 3,361,193 shares of the company’s stock were exchanged, compared to its average volume of 3,389,130. Caesars Entertainment, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The stock has a 50-day simple moving average of $40.36 and a two-hundred day simple moving average of $42.96. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 10.26 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned ($0.11) EPS. Caesars Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CZR. Wells Fargo & Company cut their target price on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Susquehanna lowered their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Morgan Stanley upped their price target on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays lowered their price target on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, TD Cowen lowered their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.08.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 40,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the acquisition, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Michael E. Pegram bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the transaction, the director now owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Pegram bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

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.