Contrarian Capital Management L.L.C. Increases Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Contrarian Capital Management L.L.C. increased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,000 shares of the company’s stock after purchasing an additional 500 shares during the period. Caesars Entertainment makes up 1.3% of Contrarian Capital Management L.L.C.’s investment portfolio, making the stock its 10th largest holding. Contrarian Capital Management L.L.C. owned about 0.06% of Caesars Entertainment worth $3,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CZR. Villere ST Denis J & Co. LLC raised its holdings in shares of Caesars Entertainment by 6.2% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock valued at $26,877,000 after purchasing an additional 47,294 shares during the last quarter. Cannell Capital LLC bought a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $13,498,000. Guyasuta Investment Advisors Inc. purchased a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $385,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Caesars Entertainment by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock valued at $62,728,000 after acquiring an additional 11,671 shares in the last quarter. Finally, Key Colony Management LLC purchased a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $6,350,000. Institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Susquehanna reduced their price target on shares of Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday. Macquarie lowered their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reduced their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lowered their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.14.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $25.52 on Friday. The business has a 50-day simple moving average of $29.50 and a 200 day simple moving average of $34.98. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -15.28 and a beta of 2.67. 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, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. On average, research analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

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.