First Trust Capital Management L.P. Buys 2,354,130 Shares of Caesars Entertainment, Inc. $CZR

First Trust Capital Management L.P. boosted its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 588.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,754,430 shares of the company’s stock after acquiring an additional 2,354,130 shares during the quarter. Caesars Entertainment accounts for approximately 3.9% of First Trust Capital Management L.P.’s portfolio, making the stock its 4th largest holding. First Trust Capital Management L.P.’s holdings in Caesars Entertainment were worth $81,669,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CZR. Allworth Financial LP boosted its holdings in shares of Caesars Entertainment by 598.9% in the 3rd quarter. Allworth Financial LP now owns 5,689 shares of the company’s stock worth $169,000 after purchasing an additional 4,875 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Caesars Entertainment by 210.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 623,766 shares of the company’s stock valued at $18,495,000 after purchasing an additional 423,027 shares during the last quarter. Eurizon Capital SGR S.p.A. increased its position in shares of Caesars Entertainment by 2,273.1% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 85,454 shares of the company’s stock valued at $2,534,000 after purchasing an additional 81,853 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of Caesars Entertainment by 9,297.1% during the 3rd quarter. CENTRAL TRUST Co now owns 6,390 shares of the company’s stock valued at $189,000 after buying an additional 6,322 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Caesars Entertainment by 90.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 75,591 shares of the company’s stock valued at $2,241,000 after buying an additional 35,976 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

CZR has been the subject of a number of recent research reports. Susquehanna restated a “neutral” rating on shares of Caesars Entertainment in a research report on Monday, October 26th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, November 2nd. Capital One Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. TD Cowen downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Caesars Entertainment from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $30.54.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $29.28 on Friday. The company has a debt-to-equity ratio of 7.15, a quick ratio of 0.80 and a current ratio of 0.82. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The company’s 50 day moving average price is $29.38 and its 200-day moving average price is $27.86. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -11.18 and a beta of 1.90.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 27th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.96 billion. Caesars Entertainment had a negative net margin of 4.55% and a negative return on equity of 9.83%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Equities research analysts forecast that Caesars Entertainment, Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other Caesars Entertainment news, Director David Tomick sold 7,142 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $29.71, for a total value of $212,188.82. Following the transaction, the director owned 17,769 shares in the company, valued at approximately $527,916.99. The trade was a 28.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janis Jones Blackhurst sold 33,899 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $29.63, for a total transaction of $1,004,427.37. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 263,175 shares of company stock valued at $7,796,855 in the last quarter. Insiders own 1.18% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc. is a gaming and hospitality company that operates casinos, hotels and resorts across the United States. Its properties offer casino gaming, hotel accommodations, restaurants, live entertainment and other leisure amenities. The company also provides online sports betting and iGaming through brands including Caesars Sportsbook and Caesars Palace Online Casino, subject to the regulations in the markets where they operate. The present-day company was formed in 2020, when Eldorado Resorts acquired Caesars Entertainment and adopted the Caesars name.