Fifth Lane Capital LP Acquires 500 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Fifth Lane Capital LP boosted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,500 shares of the company’s stock after buying an additional 500 shares during the period. Caesars Entertainment makes up about 0.8% of Fifth Lane Capital LP’s investment portfolio, making the stock its 17th largest position. Fifth Lane Capital LP’s holdings in Caesars Entertainment were worth $284,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Caesars Entertainment by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after buying an additional 408 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after purchasing an additional 470 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Caesars Entertainment by 6.1% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock valued at $291,000 after purchasing an additional 500 shares during the period. Contrarian Capital Management L.L.C. raised its stake in shares of Caesars Entertainment by 0.4% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock valued at $3,944,000 after purchasing an additional 500 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its position in Caesars Entertainment by 5.7% in the fourth quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after purchasing an additional 587 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $27.06 on Thursday. The stock has a 50-day simple moving average of $27.55 and a 200 day simple moving average of $33.95. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -16.20 and a beta of 2.67. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm posted ($0.73) earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CZR has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $45.00 price target on shares of Caesars Entertainment in a research report on Wednesday. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. TD Cowen dropped their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price target on Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.64.

About Caesars Entertainment

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.