HG Vora Capital Management LLC Trims Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

HG Vora Capital Management LLC decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 84.8% during the third quarter, Holdings Channel reports. The institutional investor owned 500,000 shares of the company’s stock after selling 2,800,000 shares during the period. Caesars Entertainment makes up approximately 1.5% of HG Vora Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. HG Vora Capital Management LLC’s holdings in Caesars Entertainment were worth $20,870,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Aryeh Capital Management Ltd. acquired a new stake in Caesars Entertainment during the third quarter worth about $7,254,000. Bamco Inc. NY acquired a new stake in Caesars Entertainment in the 3rd quarter valued at about $61,890,000. Simcoe Capital Management LLC purchased a new stake in shares of Caesars Entertainment during the 3rd quarter worth about $24,069,000. Paloma Partners Management Co increased its position in Caesars Entertainment by 1,171.5% during the third quarter. Paloma Partners Management Co now owns 211,100 shares of the company’s stock worth $8,811,000 after acquiring an additional 194,497 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Caesars Entertainment during the 3rd quarter worth approximately $1,717,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CZR. Barclays cut their price target on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Macquarie restated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. JMP Securities cut their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Finally, Stifel Nicolaus boosted their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $39.01 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of -23.36 and a beta of 2.89. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The company’s fifty day moving average is $41.38 and its 200 day moving average is $38.45.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.56 EPS for the current 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.