Park West Asset Management LLC Cuts Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Park West Asset Management LLC reduced its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,166,649 shares of the company’s stock after selling 191,500 shares during the period. Caesars Entertainment comprises 5.4% of Park West Asset Management LLC’s portfolio, making the stock its 7th biggest position. Park West Asset Management LLC owned about 0.54% of Caesars Entertainment worth $54,693,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CZR. Forest Avenue Capital Management LP bought a new position in Caesars Entertainment in the 4th quarter worth about $8,842,000. HG Vora Capital Management LLC grew its stake in Caesars Entertainment by 2.0% in the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after purchasing an additional 100,000 shares in the last quarter. Bridgefront Capital LLC purchased a new position in Caesars Entertainment during the 4th quarter worth $763,000. C M Bidwell & Associates Ltd. bought a new stake in Caesars Entertainment during the 4th quarter valued at $93,000. Finally, Honeycomb Asset Management LP purchased a new stake in shares of Caesars Entertainment in the 4th quarter worth $10,079,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CZR shares. Wells Fargo & Company decreased their price objective on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Susquehanna cut their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Stifel Nicolaus lowered their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, B. Riley assumed coverage on Caesars Entertainment in a research report on Thursday, May 9th. They set a “buy” rating and a $70.00 target price on the stock. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.07.

Caesars Entertainment Stock Down 0.8 %

Shares of CZR stock traded down $0.29 during trading hours on Thursday, reaching $37.89. 2,272,293 shares of the company’s stock were exchanged, compared to its average volume of 3,773,955. The stock has a market cap of $8.20 billion, a PE ratio of 10.69 and a beta of 2.89. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. The stock’s fifty day moving average price is $37.06 and its two-hundred day moving average price is $41.61. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.82 billion. Research analysts predict that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the purchase, the director now owns 191,697 shares in the company, valued at approximately $6,126,636.12. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Michael E. Pegram acquired 40,000 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the transaction, the director now owns 181,697 shares in the company, valued at approximately $6,611,953.83. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael E. Pegram acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the purchase, the director now directly owns 191,697 shares in the company, valued at $6,126,636.12. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

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.