Long Pond Capital LP Buys 238,894 Shares of Caesars Entertainment, Inc. $CZR

Long Pond Capital LP increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 54.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 681,189 shares of the company’s stock after purchasing an additional 238,894 shares during the period. Caesars Entertainment accounts for approximately 1.1% of Long Pond Capital LP’s holdings, making the stock its 24th largest position. Long Pond Capital LP’s holdings in Caesars Entertainment were worth $17,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CZR. DAVENPORT & Co LLC grew its holdings in Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock worth $87,399,000 after purchasing an additional 3,192,224 shares during the period. BNP Paribas Financial Markets acquired a new stake in Caesars Entertainment during the fourth quarter worth approximately $57,629,000. Jefferies Financial Group Inc. lifted its position in Caesars Entertainment by 3,673.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company’s stock worth $46,389,000 after acquiring an additional 1,351,286 shares during the last quarter. Invesco Ltd. lifted its position in Caesars Entertainment by 22.9% during the first quarter. Invesco Ltd. now owns 6,823,286 shares of the company’s stock worth $170,582,000 after acquiring an additional 1,269,911 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Caesars Entertainment during the first quarter worth approximately $30,148,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CZR shares. Truist Financial cut their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They issued a “buy” rating and a $36.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Barclays dropped their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, JMP Securities dropped their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.47.

Caesars Entertainment Stock Up 7.0%

Shares of CZR opened at $26.75 on Monday. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The company has a market cap of $5.56 billion, a P/E ratio of -29.08 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $27.84 and a two-hundred day simple moving average of $28.47.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.56) EPS. Research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Caesars Entertainment Company 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.