Entropy Technologies LP Makes New $1.30 Million Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Entropy Technologies LP acquired a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,144 shares of the company’s stock, valued at approximately $1,300,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after acquiring an additional 75,898 shares during the period. Capital Research Global Investors raised its position in shares of Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares during the period. Janus Henderson Group PLC raised its position in shares of 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 last quarter. EdgePoint Investment Group Inc. raised its position in shares of 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 last quarter. Finally, Nut Tree Capital Management LP raised its position in shares of 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 last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CZR. 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. Barclays reduced their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Susquehanna reiterated a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. 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 company’s stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $39.30 on Thursday. The business has a 50-day simple moving average of $41.53 and a 200-day simple moving average of $38.27. The company has a market cap of $8.35 billion, a PE ratio of -23.53 and a beta of 2.96. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. 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 (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm 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 company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

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.