Shellback Capital LP Has $12.11 Million Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Shellback Capital LP cut its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 40.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,800 shares of the company’s stock after selling 205,200 shares during the quarter. Shellback Capital LP owned about 0.14% of Caesars Entertainment worth $12,113,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after acquiring an additional 75,898 shares during the last quarter. Capital Research Global Investors grew its holdings in Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares during the last quarter. Capital World Investors grew its holdings in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after purchasing an additional 233,250 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after buying an additional 60,184 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Up 1.2 %

NASDAQ CZR opened at $41.08 on Friday. The stock’s 50 day simple moving average is $37.20 and its 200 day simple moving average is $37.89. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The firm has a market cap of $8.89 billion, a PE ratio of 11.64 and a beta of 2.96. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68.

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

Analysts Set New Price Targets

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

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.