AXQ Capital LP Purchases New Position in Caesars Entertainment, Inc. $CZR

AXQ Capital LP purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,597 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds also recently modified their holdings of CZR. Legal & General Group Plc raised its stake in shares of Caesars Entertainment by 13.4% in the second quarter. Legal & General Group Plc now owns 420,422 shares of the company’s stock valued at $11,936,000 after acquiring an additional 49,644 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Caesars Entertainment by 157.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 79,777 shares of the company’s stock valued at $2,265,000 after purchasing an additional 48,834 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Caesars Entertainment by 57.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 34,689 shares of the company’s stock valued at $985,000 after purchasing an additional 12,640 shares during the last quarter. Cetera Investment Advisers boosted its stake in Caesars Entertainment by 97.2% in the second quarter. Cetera Investment Advisers now owns 33,436 shares of the company’s stock worth $949,000 after purchasing an additional 16,480 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Caesars Entertainment by 28.8% during the second quarter. Creative Planning now owns 16,793 shares of the company’s stock worth $477,000 after purchasing an additional 3,760 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Caesars Entertainment in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Citigroup began coverage on shares of Caesars Entertainment in a report on Friday. They issued a “neutral” rating and a $23.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on Caesars Entertainment from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.39.

Caesars Entertainment Stock Down 2.0%

NASDAQ:CZR opened at $20.89 on Tuesday. Caesars Entertainment, Inc. has a 12-month low of $18.25 and a 12-month high of $40.00. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The firm has a market capitalization of $4.26 billion, a P/E ratio of -18.17 and a beta of 2.32. The stock’s fifty day simple moving average is $22.70 and its 200-day simple moving average is $25.85.

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

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.