III Capital Management Has $730,000 Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

III Capital Management lessened its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 61.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,373 shares of the company’s stock after selling 29,143 shares during the period. III Capital Management’s holdings in Caesars Entertainment were worth $730,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CZR. Capital Research Global Investors boosted its holdings in Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after acquiring an additional 3,289,748 shares during the last quarter. Nut Tree Capital Management LP lifted its holdings in Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after buying an additional 1,700,000 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Caesars Entertainment by 35.4% in the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after acquiring an additional 1,515,763 shares during the last quarter. Helikon Investments Ltd acquired a new stake in Caesars Entertainment during the 2nd quarter worth $37,763,000. Finally, Capital World Investors raised its position in shares of Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 1.3 %

CZR opened at $40.85 on Wednesday. The stock has a market capitalization of $8.84 billion, a P/E ratio of 11.57 and a beta of 2.96. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. The firm’s fifty day simple moving average is $37.07 and its 200 day simple moving average is $37.85.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CZR. Morgan Stanley reduced their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group reduced their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

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.