Y Intercept Hong Kong Ltd Buys New Shares in Caesars Entertainment, Inc. $CZR

Y Intercept Hong Kong Ltd bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,847 shares of the company’s stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vontobel Holding Ltd. increased its position in shares of Caesars Entertainment by 2.3% in the second quarter. Vontobel Holding Ltd. now owns 15,795 shares of the company’s stock valued at $448,000 after acquiring an additional 356 shares during the last quarter. UMB Bank n.a. increased its position in Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Caesars Entertainment by 1.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company’s stock worth $728,000 after buying an additional 476 shares during the last quarter. Resona Asset Management Co. Ltd. increased its position in Caesars Entertainment by 35.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock worth $46,000 after buying an additional 477 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Caesars Entertainment by 69.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock worth $33,000 after buying an additional 478 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 0.4%

Shares of CZR stock opened at $19.93 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. The stock has a market cap of $4.07 billion, a P/E ratio of -17.33 and a beta of 2.32. The stock has a 50 day simple moving average of $24.24 and a 200 day simple moving average of $26.51. Caesars Entertainment, Inc. has a 1 year low of $18.25 and a 1 year high of $41.76.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. On average, research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial lowered their price target on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley lowered their price target 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. The Goldman Sachs Group lowered their price target on Caesars Entertainment from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Cfra reissued a “hold” rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.82.

Caesars Entertainment Company 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.