Joel Isaacson & Co. LLC Acquires New Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Joel Isaacson & Co. LLC bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the third quarter, HoldingsChannel.com reports. The fund bought 17,000 shares of the company’s stock, valued at approximately $710,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Caesars Entertainment by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares during the period. Capital Research Global Investors raised its position in Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Caesars Entertainment by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after acquiring an additional 233,250 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Caesars Entertainment by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after acquiring an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP raised its holdings in Caesars Entertainment by 340.0% in the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 1.1 %

Shares of CZR opened at $44.18 on Friday. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of -34.25 and a beta of 2.97. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. The business’s 50 day simple moving average is $40.54 and its 200-day simple moving average is $38.11.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the company earned $0.82 EPS. Caesars Entertainment’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Caesars Entertainment, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group cut their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus increased their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Barclays lifted their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $54.54.

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.