Entropy Technologies LP Acquires Shares of 31,144 Caesars Entertainment, Inc. (NASDAQ:CZR)

Entropy Technologies LP acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 3rd quarter, HoldingsChannel reports. The firm acquired 31,144 shares of the company’s stock, valued at approximately $1,300,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. Vanguard Group Inc. increased its position in Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares during the period. Capital Research Global Investors increased its position in Caesars Entertainment by 26.9% during the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares during the period. Janus Henderson Group PLC increased its position in Caesars Entertainment by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after purchasing an additional 233,250 shares during the period. EdgePoint Investment Group Inc. increased its position in Caesars Entertainment by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after purchasing an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP increased its position in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CZR shares. Barclays dropped 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. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $39.30 on Thursday. The stock has a market capitalization of $8.35 billion, a P/E ratio of -23.53 and a beta of 2.96. Caesars Entertainment, Inc. has a 12-month low of $31.74 and a 12-month high of $50.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The firm’s 50-day moving average is $41.53 and its two-hundred day moving average is $38.27.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Equities analysts predict that Caesars Entertainment, Inc. will post -0.54 earnings per share for the current 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.