AlphaQuest LLC Buys 9,077 Shares of Caesars Entertainment, Inc. $CZR

AlphaQuest LLC boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 91.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,984 shares of the company’s stock after purchasing an additional 9,077 shares during the period. AlphaQuest LLC’s holdings in Caesars Entertainment were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Caesars Entertainment by 103.5% during the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock worth $4,719,000 after purchasing an additional 84,545 shares during the period. DAVENPORT & Co LLC lifted its stake 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. Penn Capital Management Company LLC lifted its stake in Caesars Entertainment by 101.9% during the first quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company’s stock worth $1,154,000 after purchasing an additional 22,812 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Caesars Entertainment by 14.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company’s stock worth $261,000 after purchasing an additional 1,360 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Caesars Entertainment during the first quarter worth about $540,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $22.09 on Wednesday. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.65. The firm has a 50 day moving average of $25.02 and a 200-day moving average of $26.75. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $4.59 billion, a P/E ratio of -24.01 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cfra restated a “hold” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. Morgan Stanley cut their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Truist Financial cut their target price on shares of Caesars Entertainment from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.80.

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.