Entropy Technologies LP Purchases Shares of 31,144 Caesars Entertainment, Inc. (NASDAQ:CZR)

Entropy Technologies LP acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,144 shares of the company’s stock, valued at approximately $1,300,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. Assetmark Inc. increased its stake in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares during the period. American Trust raised its holdings in shares of Caesars Entertainment by 4.5% during the first quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after acquiring an additional 313 shares in the last quarter. Private Advisor Group LLC lifted its stake in Caesars Entertainment by 3.0% in the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after acquiring an additional 317 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after acquiring an additional 403 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the subject of several research analyst reports. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Susquehanna reaffirmed a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Price Performance

CZR opened at $39.30 on Thursday. The company’s 50-day simple moving average is $41.53 and its two-hundred day simple moving average is $38.27. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a market capitalization of $8.35 billion, a P/E ratio of -23.53 and a beta of 2.96. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, analysts predict that Caesars Entertainment, Inc. will post -0.54 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.