Caesars Entertainment, Inc. $CZR Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 58.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,592,714 shares of the company’s stock after selling 2,215,991 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.77% of Caesars Entertainment worth $45,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Caesars Entertainment in the 2nd quarter worth about $79,604,000. Hein Park Capital Management LP purchased a new position in Caesars Entertainment in the first quarter valued at approximately $60,492,000. HG Vora Capital Management LLC lifted its position in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after buying an additional 1,650,000 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in Caesars Entertainment during the first quarter worth approximately $38,711,000. Finally, Royal Bank of Canada increased its position in shares of Caesars Entertainment by 477.7% in the first quarter. Royal Bank of Canada now owns 1,833,567 shares of the company’s stock worth $45,839,000 after acquiring an additional 1,516,153 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. JMP Securities reduced their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 17th. Jefferies Financial Group lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $22.00 in a report on Tuesday, November 4th. Finally, Macquarie dropped their price target on shares of Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $35.39.

Caesars Entertainment Trading Up 0.8%

CZR opened at $23.48 on Thursday. Caesars Entertainment, Inc. has a 12-month low of $18.25 and a 12-month high of $40.00. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. The stock has a market capitalization of $4.79 billion, a PE ratio of -20.42 and a beta of 2.04. The firm’s fifty day moving average price is $21.95 and its 200 day moving average price is $25.35.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.77 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.