Simcoe Capital Management LLC Takes Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Simcoe Capital Management LLC acquired a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 576,650 shares of the company’s stock, valued at approximately $24,069,000. Caesars Entertainment comprises about 3.2% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Simcoe Capital Management LLC owned approximately 0.27% of Caesars Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Huntington National Bank grew its position in shares of Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. acquired a new position in Caesars Entertainment in the third quarter valued at $51,000. GAMMA Investing LLC increased its stake in shares of Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 0.6 %

CZR opened at $38.49 on Monday. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of -23.05 and a beta of 2.96. The stock’s 50 day moving average price is $41.43 and its 200-day moving average price is $38.41. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. On average, equities analysts forecast that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Finally, JMP Securities lowered their price target on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.86.

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.