Appaloosa LP Has $73.52 Million Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Appaloosa LP boosted its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,200,000 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Caesars Entertainment makes up about 1.1% of Appaloosa LP’s holdings, making the stock its 25th biggest position. Appaloosa LP owned about 1.04% of Caesars Entertainment worth $73,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC grew its position in Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the last quarter. Huntington National Bank grew its position in Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares during the last quarter. Quarry LP acquired a new stake in Caesars Entertainment in the 3rd quarter worth $68,000. Steward Partners Investment Advisory LLC acquired a new stake in Caesars Entertainment in the 4th quarter worth $73,000. Finally, Avior Wealth Management LLC grew its position in Caesars Entertainment by 12,577.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after purchasing an additional 2,264 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CZR. Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Macquarie decreased their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial decreased their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, JMP Securities cut their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.43.

Caesars Entertainment Stock Down 1.9 %

CZR stock opened at $27.32 on Thursday. The stock has a market capitalization of $5.79 billion, a P/E ratio of -16.36 and a beta of 2.97. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12 month low of $26.84 and a 12 month high of $45.93. The firm has a 50-day moving average price of $34.15 and a 200-day moving average price of $37.46.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Caesars Entertainment Profile

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.