Simcoe Capital Management LLC Takes Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Simcoe Capital Management LLC bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the third quarter, HoldingsChannel reports. The institutional investor bought 576,650 shares of the company’s stock, valued at approximately $24,069,000. Caesars Entertainment accounts for 3.2% of Simcoe Capital Management LLC’s holdings, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in shares of Caesars Entertainment by 1.0% during the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after purchasing an additional 60,184 shares in the last quarter. Helikon Investments Ltd lifted its position in Caesars Entertainment by 67.1% in the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock valued at $66,264,000 after purchasing an additional 637,303 shares during the period. Principal Financial Group Inc. lifted its position in Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after purchasing an additional 59,170 shares during the period. SG Americas Securities LLC lifted its position in shares of Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after acquiring an additional 1,418,318 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Caesars Entertainment by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,374,990 shares of the company’s stock valued at $54,642,000 after acquiring an additional 146,310 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 0.6 %

NASDAQ CZR opened at $38.49 on Monday. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The business’s fifty day moving average is $41.43 and its 200-day moving average is $38.41. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of -23.05 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.

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

Analysts Set New Price Targets

Several research firms have commented on CZR. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.86.

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.