Brevan Howard Capital Management LP Trims Stock Holdings in Caesars Entertainment, Inc. $CZR

Brevan Howard Capital Management LP decreased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 21.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,720 shares of the company’s stock after selling 38,674 shares during the quarter. Brevan Howard Capital Management LP owned approximately 0.07% of Caesars Entertainment worth $3,775,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CZR. ING Groep NV boosted its position in Caesars Entertainment by 80.2% during the 3rd quarter. ING Groep NV now owns 599,854 shares of the company’s stock valued at $16,211,000 after acquiring an additional 266,917 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Caesars Entertainment by 56.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company’s stock valued at $45,953,000 after acquiring an additional 612,837 shares during the period. LDR Capital Management LLC purchased a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $1,172,000. Capital World Investors lifted its holdings in shares of Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after buying an additional 3,716,148 shares during the period. Finally, Villere ST Denis J & Co. LLC lifted its stake in shares of Caesars Entertainment by 31.6% in the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,038,870 shares of the company’s stock valued at $28,075,000 after purchasing an additional 249,603 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 3.2%

Shares of NASDAQ:CZR opened at $27.16 on Tuesday. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of -11.18 and a beta of 1.94. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58. The business has a 50-day moving average price of $23.06 and a 200 day moving average price of $23.31. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Ratings Changes

CZR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. TD Cowen restated a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research note on Tuesday, March 10th. Citizens Jmp decreased their price target on shares of Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Finally, Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and raised their price objective for the company from $25.00 to $31.00 in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.65.

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.