Bridger Management LLC Trims Stake in Caesars Entertainment, Inc. $CZR

Bridger Management LLC cut its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247,851 shares of the company’s stock after selling 16,874 shares during the quarter. Caesars Entertainment comprises approximately 4.1% of Bridger Management LLC’s investment portfolio, making the stock its 11th biggest position. Bridger Management LLC owned 0.12% of Caesars Entertainment worth $7,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its stake in Caesars Entertainment by 508.5% during the second quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after buying an additional 722 shares during the period. UMB Bank n.a. lifted its holdings in shares of Caesars Entertainment by 52.0% in the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Caesars Entertainment by 168.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock worth $32,000 after purchasing an additional 711 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after purchasing an additional 478 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in Caesars Entertainment in the second quarter valued at approximately $35,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $20.61 on Tuesday. The company has a market cap of $4.21 billion, a P/E ratio of -17.92 and a beta of 2.32. The firm has a fifty day moving average price of $23.21 and a 200 day moving average price of $26.09. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. Caesars Entertainment, Inc. has a 12 month low of $18.25 and a 12 month high of $40.00.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CZR. Jefferies Financial Group lowered Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $22.00 in a research report on Tuesday, November 4th. Stifel Nicolaus lowered their target price on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Susquehanna dropped their target price on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Barclays reduced their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.82.

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.