Goldentree Asset Management LP Buys Shares of 605,780 Caesars Entertainment, Inc. (NASDAQ:CZR)

Goldentree Asset Management LP purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 605,780 shares of the company’s stock, valued at approximately $25,285,000. Caesars Entertainment makes up about 2.0% of Goldentree Asset Management LP’s portfolio, making the stock its 16th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors raised its position in shares of Caesars Entertainment by 3.7% during the 3rd quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock worth $836,000 after purchasing an additional 720 shares during the last quarter. Public Sector Pension Investment Board increased its position in Caesars Entertainment by 362.5% during the third quarter. Public Sector Pension Investment Board now owns 37,766 shares of the company’s stock worth $1,576,000 after buying an additional 29,600 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Caesars Entertainment in the third quarter worth $258,000. Soros Capital Management LLC lifted its position in shares of Caesars Entertainment by 2.8% in the third quarter. Soros Capital Management LLC now owns 92,926 shares of the company’s stock valued at $3,879,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Caesars Entertainment by 11.3% during the third quarter. Townsquare Capital LLC now owns 8,001 shares of the company’s stock valued at $334,000 after acquiring an additional 814 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Down 1.1 %

NASDAQ CZR opened at $38.25 on Friday. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of -22.90 and a beta of 2.96. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The company’s 50 day moving average price is $41.49 and its 200 day moving average price is $38.38.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The business had revenue of $2.87 billion during 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 revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, JMP Securities decreased their price objective on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.86.

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.