Caesars Entertainment, Inc. $CZR Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC grew its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 149.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,959 shares of the company’s stock after purchasing an additional 1,175 shares during the quarter. Parallel Advisors LLC’s holdings in Caesars Entertainment were worth $56,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC raised its holdings in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Caesars Entertainment by 14.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company’s stock valued at $261,000 after purchasing an additional 1,360 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Caesars Entertainment in the 1st quarter valued at $540,000. HG Vora Capital Management LLC raised its stake in Caesars Entertainment by 73.3% during the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock worth $97,500,000 after acquiring an additional 1,650,000 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Caesars Entertainment during the 1st quarter worth $30,148,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 1.6%

Shares of Caesars Entertainment stock opened at $25.91 on Friday. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The company’s 50-day simple moving average is $26.36 and its 200-day simple moving average is $27.15. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of -28.16 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the firm earned ($0.56) earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CZR. Barclays dropped their price objective on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. Stifel Nicolaus raised their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. JMP Securities dropped their price objective on Caesars Entertainment from $43.00 to $41.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 16th. Finally, Morgan Stanley dropped their price objective on Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.

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.