Park West Asset Management LLC Decreases Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Park West Asset Management LLC reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 20.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,082,452 shares of the company’s stock after selling 272,901 shares during the period. Caesars Entertainment accounts for about 2.9% of Park West Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Park West Asset Management LLC owned about 0.51% of Caesars Entertainment worth $36,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 800 shares during the last quarter. FIL Ltd purchased a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $28,000. Resona Asset Management Co. Ltd. bought a new position in shares of Caesars Entertainment during the 4th quarter valued at approximately $44,000. Canada Pension Plan Investment Board lifted its position in Caesars Entertainment by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Caesars Entertainment during the fourth quarter worth $71,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $28.06 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 business’s 50 day moving average price is $27.91 and its 200 day moving average price is $34.04. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The firm has a market cap of $5.95 billion, a P/E ratio of -16.80 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. TD Cowen lowered their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Barclays cut their price target on Caesars Entertainment from $54.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group cut their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.86.

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.