III Capital Management Purchases 21,577 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

III Capital Management boosted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 117.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,950 shares of the company’s stock after buying an additional 21,577 shares during the quarter. III Capital Management’s holdings in Caesars Entertainment were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. Huntington National Bank increased its position in Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after purchasing an additional 833 shares during the period. UMB Bank n.a. bought a new position in Caesars Entertainment in the 3rd quarter worth $51,000. GAMMA Investing LLC lifted its position in shares of Caesars Entertainment by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after purchasing an additional 622 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Caesars Entertainment by 77.0% during the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 0.8 %

NASDAQ CZR traded down $0.31 during mid-day trading on Tuesday, reaching $38.70. The stock had a trading volume of 87,008 shares, compared to its average volume of 4,096,424. The stock has a market cap of $8.22 billion, a PE ratio of -23.36 and a beta of 2.89. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a fifty day moving average price of $41.38 and a 200 day moving average price of $38.45.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share 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 business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lowered their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $53.86.

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.