140 Summer Partners LP Sells 109,300 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

140 Summer Partners LP lowered its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,733,900 shares of the company’s stock after selling 109,300 shares during the quarter. Caesars Entertainment comprises about 7.8% of 140 Summer Partners LP’s portfolio, making the stock its 6th largest position. 140 Summer Partners LP owned about 0.82% of Caesars Entertainment worth $72,373,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares during the period. Huntington National Bank grew its holdings in Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after acquiring an additional 833 shares during the period. UMB Bank n.a. purchased a new position in Caesars Entertainment during the third quarter valued at approximately $51,000. GAMMA Investing LLC lifted its holdings in Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after acquiring an additional 622 shares during the period. Finally, Signaturefd LLC boosted its position in Caesars Entertainment by 77.0% in the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

CZR stock opened at $38.25 on Thursday. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. The firm has a market capitalization of $8.13 billion, a PE ratio of -22.90 and a beta of 2.96. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The business has a 50 day simple moving average of $41.60 and a 200-day simple moving average of $38.39.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CZR shares. Barclays cut their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JMP Securities decreased their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday. Wells Fargo & Company dropped their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Susquehanna reissued a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.86.

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.