Ionic Capital Management LLC Grows Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Ionic Capital Management LLC grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 242.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,186 shares of the company’s stock after buying an additional 32,000 shares during the period. Ionic Capital Management LLC’s holdings in Caesars Entertainment were worth $1,886,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CZR. Janus Henderson Group PLC grew its stake in shares of Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after acquiring an additional 60,184 shares during the period. Helikon Investments Ltd raised its position in shares of Caesars Entertainment by 67.1% during the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after acquiring an additional 637,303 shares during the last quarter. Bamco Inc. NY acquired a new stake in Caesars Entertainment during the 3rd quarter worth $61,890,000. Finally, Principal Financial Group Inc. boosted its holdings in Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after purchasing an additional 59,170 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays decreased their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JMP Securities reduced their price objective 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. Finally, Stifel Nicolaus boosted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.86.

Caesars Entertainment Trading Up 1.4 %

NASDAQ CZR opened at $39.01 on Tuesday. The stock’s fifty day moving average price is $41.38 and its 200-day moving average price is $38.45. The stock has a market cap of $8.29 billion, a P/E ratio of -23.36 and a beta of 2.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51.

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