Adage Capital Partners GP L.L.C. Cuts Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Adage Capital Partners GP L.L.C. lessened its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,500 shares of the company’s stock after selling 5,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of Caesars Entertainment worth $6,634,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Caesars Entertainment by 16.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,569,622 shares of the company’s stock worth $52,457,000 after purchasing an additional 223,861 shares during the period. Long Focus Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 29.4% in the 4th quarter. Long Focus Capital Management LLC now owns 857,200 shares of the company’s stock worth $28,648,000 after purchasing an additional 195,000 shares during the period. Dark Forest Capital Management LP boosted its holdings in shares of Caesars Entertainment by 229.6% in the 4th quarter. Dark Forest Capital Management LP now owns 18,752 shares of the company’s stock worth $627,000 after purchasing an additional 13,063 shares during the period. Khrom Capital Management LLC purchased a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $16,191,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Caesars Entertainment by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 308,386 shares of the company’s stock worth $10,272,000 after purchasing an additional 44,672 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 1.3 %

CZR opened at $28.06 on Tuesday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -16.80 and a beta of 2.67. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month high of $45.93. The stock has a fifty day moving average price of $27.91 and a 200-day moving average price of $34.04.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. The firm 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%. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JMP Securities dropped their price objective on Caesars Entertainment from $53.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Capital One Financial upgraded Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial dropped their price objective on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.86.

Caesars Entertainment 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.