Concurrent Investment Advisors LLC Makes New Investment in Caesars Entertainment, Inc. $CZR

Concurrent Investment Advisors LLC acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, HoldingsChannel reports. The fund acquired 11,671 shares of the company’s stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CZR. JFS Wealth Advisors LLC increased its holdings in shares of Caesars Entertainment by 508.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after buying an additional 722 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock worth $26,000 after buying an additional 405 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Caesars Entertainment by 168.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock worth $32,000 after buying an additional 711 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Caesars Entertainment by 69.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock worth $33,000 after buying an additional 478 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $21.45 on Monday. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.88. The company’s 50-day simple moving average is $25.39 and its 200-day simple moving average is $26.87. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of -23.31 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the business posted ($0.56) EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CZR. Macquarie dropped their price objective on Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. JPMorgan Chase & Co. increased their price target on Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They issued a “buy” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.13.

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.