LDR Capital Management LLC Takes $1.17 Million Position in Caesars Entertainment, Inc. $CZR

LDR Capital Management LLC bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 43,371 shares of the company’s stock, valued at approximately $1,172,000. Caesars Entertainment makes up approximately 1.7% of LDR Capital Management LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Caesars Entertainment in the second quarter worth about $592,000. Assenagon Asset Management S.A. lifted its stake in shares of Caesars Entertainment by 103.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock worth $4,719,000 after acquiring an additional 84,545 shares during the period. Amundi boosted its holdings in shares of Caesars Entertainment by 82.1% in the second quarter. Amundi now owns 2,025,951 shares of the company’s stock valued at $60,049,000 after acquiring an additional 913,275 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Caesars Entertainment by 348.6% during the third quarter. State of Alaska Department of Revenue now owns 104,656 shares of the company’s stock worth $2,828,000 after purchasing an additional 81,325 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in Caesars Entertainment by 14.7% in the second quarter. Pekin Hardy Strauss Inc. now owns 214,889 shares of the company’s stock worth $6,101,000 after purchasing an additional 27,596 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. Stifel Nicolaus cut their price objective on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $23.71 on Tuesday. Caesars Entertainment, Inc. has a 12 month low of $18.25 and a 12 month high of $40.00. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The stock has a market cap of $4.84 billion, a PE ratio of -20.66, a price-to-earnings-growth ratio of 4.99 and a beta of 2.03. The business has a fifty day simple moving average of $23.15 and a 200-day simple moving average of $24.66.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.