AQR Capital Management LLC Reduces Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

AQR Capital Management LLC lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 78.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 556,917 shares of the company’s stock after selling 2,076,595 shares during the period. AQR Capital Management LLC’s holdings in Caesars Entertainment were worth $22,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CZR. Vanguard Group Inc. boosted its position in Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Caesars Entertainment by 26.9% in the 1st 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. Capital World Investors increased its stake in shares of Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Caesars Entertainment by 2.5% during the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after purchasing an additional 233,250 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CZR. Morgan Stanley decreased their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Susquehanna reaffirmed a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note 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 company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. 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 stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $41.74 on Tuesday. The business’s 50 day moving average price is $37.40 and its 200-day moving average price is $37.84. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The firm has a market capitalization of $9.03 billion, a PE ratio of 11.82 and a beta of 2.96. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $0.82 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.02 earnings per share for the current fiscal 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.