HighVista Strategies LLC Takes Position in Caesars Entertainment, Inc. $CZR

HighVista Strategies LLC acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,000 shares of the company’s stock, valued at approximately $1,162,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors raised its position in Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. State Street Corp boosted its holdings in shares of Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Caesars Entertainment by 3.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 4,320,758 shares of the company’s stock valued at $116,768,000 after purchasing an additional 123,865 shares during the last quarter. Norges Bank purchased a new stake in Caesars Entertainment in the second quarter worth approximately $79,604,000. Finally, Amundi boosted its stake in Caesars Entertainment by 82.1% in the second quarter. Amundi now owns 2,025,951 shares of the company’s stock worth $60,049,000 after buying an additional 913,275 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CZR has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $25.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Wells Fargo & Company began coverage on shares of Caesars Entertainment in a research note on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price objective for the company. Truist Financial reduced their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Susquehanna upgraded shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $25.00 to $31.00 in a research report on Thursday, January 8th. Finally, Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.65.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $27.16 on Tuesday. The company has a market capitalization of $5.53 billion, a P/E ratio of -11.18 and a beta of 1.94. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80. The stock has a 50 day moving average price of $23.06 and a two-hundred day moving average price of $23.31.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.