III Capital Management Has $1.67 Million Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

III Capital Management raised its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 117.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,950 shares of the company’s stock after purchasing an additional 21,577 shares during the quarter. III Capital Management’s holdings in Caesars Entertainment were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 18.7% during the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Bamco Inc. NY bought a new position in shares of Caesars Entertainment during the 3rd quarter valued at approximately $61,890,000. SG Americas Securities LLC increased its stake in shares of Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after purchasing an additional 1,418,318 shares during the last quarter. Helikon Investments Ltd bought a new stake in shares of Caesars Entertainment in the 2nd quarter worth approximately $37,763,000. Finally, Progeny 3 Inc. bought a new stake in shares of Caesars Entertainment in the third quarter valued at $37,649,000. Institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

CZR has been the subject of several recent research reports. JMP Securities decreased their price objective on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a report on Wednesday, October 30th. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley upped their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.86.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR traded down $0.31 during trading hours on Tuesday, reaching $38.70. 87,008 shares of the stock traded hands, compared to its average volume of 4,096,424. The company’s 50-day simple moving average is $41.38 and its two-hundred day simple moving average is $38.45. The company has a market capitalization of $8.22 billion, a P/E ratio of -23.36 and a beta of 2.89. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51. 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 announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.56 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.