Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by 140 Summer Partners LP

140 Summer Partners LP reduced its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,733,900 shares of the company’s stock after selling 109,300 shares during the quarter. Caesars Entertainment accounts for 7.8% of 140 Summer Partners LP’s portfolio, making the stock its 6th largest position. 140 Summer Partners LP’s holdings in Caesars Entertainment were worth $72,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after acquiring an additional 1,418,318 shares in the last quarter. Helikon Investments Ltd acquired a new position in shares of Caesars Entertainment in the second quarter valued at approximately $37,763,000. Bank of Montreal Can raised its stake in shares of Caesars Entertainment by 451.6% in the second quarter. Bank of Montreal Can now owns 1,017,484 shares of the company’s stock valued at $40,577,000 after acquiring an additional 833,039 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Caesars Entertainment by 783.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 928,529 shares of the company’s stock valued at $36,900,000 after purchasing an additional 823,428 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of Caesars Entertainment by 183.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 801,237 shares of the company’s stock valued at $31,841,000 after purchasing an additional 518,369 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $53.86.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $38.25 on Thursday. The business’s 50-day moving average price is $41.60 and its 200 day moving average price is $38.39. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market cap of $8.13 billion, a P/E ratio of -22.90 and a beta of 2.96. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities research analysts expect that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

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.