Cresset Asset Management LLC Takes Position in Caesars Entertainment, Inc. $CZR

Cresset Asset Management LLC purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,363 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CZR. NewEdge Advisors LLC boosted its position in shares of Caesars Entertainment by 519.4% in the 4th quarter. NewEdge Advisors LLC now owns 7,160 shares of the company’s stock worth $239,000 after purchasing an additional 6,004 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Caesars Entertainment by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,713,282 shares of the company’s stock valued at $57,250,000 after buying an additional 87,102 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Caesars Entertainment by 30.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 17,579 shares of the company’s stock worth $587,000 after acquiring an additional 4,069 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Caesars Entertainment by 150.2% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 18,615 shares of the company’s stock worth $618,000 after acquiring an additional 11,174 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $1,536,000. 91.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CZR has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Morgan Stanley cut their target price on Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Stifel Nicolaus raised their target price on Caesars Entertainment from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Barclays dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. One equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.47.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $26.14 on Wednesday. The firm’s fifty day moving average is $27.84 and its two-hundred day moving average is $28.39. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -28.41 and a beta of 2.40. 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, Inc. has a one year low of $21.40 and a one year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the firm earned ($0.56) EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS 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.