Kanen Wealth Management LLC Reduces Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Kanen Wealth Management LLC reduced its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 376,760 shares of the company’s stock after selling 1,742 shares during the quarter. Caesars Entertainment comprises about 3.8% of Kanen Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Kanen Wealth Management LLC owned about 0.18% of Caesars Entertainment worth $9,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Villere ST Denis J & Co. LLC grew its stake in Caesars Entertainment by 6.2% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock valued at $26,877,000 after acquiring an additional 47,294 shares during the period. Cannell Capital LLC acquired a new stake in Caesars Entertainment during the 4th quarter worth $13,498,000. Guyasuta Investment Advisors Inc. acquired a new stake in Caesars Entertainment during the 4th quarter worth $385,000. Charles Schwab Investment Management Inc. boosted its stake in Caesars Entertainment by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock worth $62,728,000 after purchasing an additional 11,671 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Caesars Entertainment by 40.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,550 shares of the company’s stock worth $779,000 after acquiring an additional 6,778 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CZR. JMP Securities restated a “market outperform” rating and issued a $45.00 price objective on shares of Caesars Entertainment in a report on Wednesday, April 30th. Stifel Nicolaus lowered their price objective on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Macquarie lowered their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. Finally, Susquehanna boosted their price objective on Caesars Entertainment from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, ten have issued 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 price target of $43.77.

Caesars Entertainment Stock Up 3.9%

Shares of Caesars Entertainment stock opened at $26.74 on Tuesday. The stock has a 50-day moving average price of $26.97 and a 200 day moving average price of $31.22. The company has a market cap of $5.56 billion, a P/E ratio of -16.01 and a beta of 2.31. 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 1 year low of $21.40 and a 1 year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.73) earnings per share. As a group, analysts expect 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.