SCP Investment LP Sells 25,000 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

SCP Investment LP reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 900,000 shares of the company’s stock after selling 25,000 shares during the quarter. Caesars Entertainment makes up about 27.3% of SCP Investment LP’s holdings, making the stock its largest holding. SCP Investment LP’s holdings in Caesars Entertainment were worth $37,566,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares during the period. Nut Tree Capital Management LP grew its position in Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after buying an additional 1,515,763 shares during the period. SG Americas Securities LLC lifted its position in Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after buying an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new stake in shares of Caesars Entertainment during the 2nd quarter valued at $37,763,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 2.3 %

NASDAQ:CZR opened at $37.38 on Wednesday. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. 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 stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of -22.38 and a beta of 2.96. The firm has a fifty day simple moving average of $41.60 and a two-hundred day simple moving average of $38.32.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CZR. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.