Caesars Entertainment, Inc. (NASDAQ:CZR) is Quaker Capital Investments LLC’s 8th Largest Position

Quaker Capital Investments LLC lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,272 shares of the company’s stock after acquiring an additional 40,250 shares during the period. Caesars Entertainment accounts for about 4.6% of Quaker Capital Investments LLC’s investment portfolio, making the stock its 8th largest position. Quaker Capital Investments LLC owned 0.17% of Caesars Entertainment worth $12,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Caesars Entertainment in the 4th quarter worth approximately $75,058,000. Cohen & Steers Inc. boosted its stake in shares of Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after purchasing an additional 1,882,728 shares during the period. Assenagon Asset Management S.A. increased its stake 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 worth $71,536,000 after buying an additional 1,697,443 shares during the period. Invesco Ltd. lifted its holdings in Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock worth $185,594,000 after buying an additional 1,213,426 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $35,797,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CZR shares. Jefferies Financial Group cut their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut 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. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Thursday, March 6th. JMP Securities cut their price objective on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $49.14.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $25.33 on Monday. The company’s fifty day moving average is $30.36 and its two-hundred day moving average is $35.35. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -15.17 and a beta of 2.67. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current 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.