Suvretta Capital Management LLC Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Suvretta Capital Management LLC bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 772,412 shares of the company’s stock, valued at approximately $25,814,000.

Other large investors also recently made changes to their positions in the company. Bogart Wealth LLC lifted its stake in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares during the period. FIL Ltd acquired a new stake in Caesars Entertainment during the 4th quarter worth $28,000. Resona Asset Management Co. Ltd. acquired a new stake in Caesars Entertainment during the 4th quarter worth $44,000. Canada Pension Plan Investment Board raised its stake in Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 800 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Caesars Entertainment during the 4th quarter worth $71,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $30.70 on Friday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -18.38 and a beta of 2.51. The business has a 50-day moving average of $26.92 and a 200-day moving average of $32.63. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. During the same quarter in the previous year, the business earned ($0.73) EPS. Caesars Entertainment’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CZR. Macquarie dropped their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Susquehanna raised their price objective on Caesars Entertainment from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Finally, Raymond James dropped their price target on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.77.

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.