Key Colony Management LLC Makes New $6.35 Million Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Colony Management LLC bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 190,000 shares of the company’s stock, valued at approximately $6,350,000. Caesars Entertainment comprises approximately 9.5% of Key Colony Management LLC’s portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in shares of Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings 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 valued at $232,847,000 after buying an additional 60,184 shares during the period. Assenagon Asset Management S.A. raised its holdings in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after buying an additional 1,697,443 shares during the period. Helikon Investments Ltd lifted its position in Caesars Entertainment by 67.1% in the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after buying an additional 637,303 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in Caesars Entertainment during the third quarter worth $61,890,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 3.5 %

Caesars Entertainment stock opened at $33.19 on Wednesday. Caesars Entertainment, Inc. has a twelve month low of $30.78 and a twelve month high of $47.99. The business has a fifty day moving average of $36.09 and a two-hundred day moving average of $38.07. The firm has a market cap of $7.05 billion, a P/E ratio of -19.87 and a beta of 2.90. 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 (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CZR shares. JPMorgan Chase & Co. reduced their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. JMP Securities cut their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Finally, Jefferies Financial Group decreased their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.14.

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.