SCP Investment LP Has $20.55 Million Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

SCP Investment LP reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615,000 shares of the company’s stock after selling 285,000 shares during the quarter. Caesars Entertainment accounts for approximately 15.7% of SCP Investment LP’s holdings, making the stock its 2nd biggest position. SCP Investment LP owned 0.29% of Caesars Entertainment worth $20,553,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC raised its stake in shares of Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares in the last quarter. Quarry LP acquired a new position in shares of Caesars Entertainment in the 3rd quarter valued at $68,000. Steward Partners Investment Advisory LLC bought a new position in shares of Caesars Entertainment during the 4th quarter worth about $73,000. Avior Wealth Management LLC boosted its position in shares of Caesars Entertainment by 12,577.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock valued at $76,000 after acquiring an additional 2,264 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Caesars Entertainment by 219.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,410 shares of the company’s stock valued at $114,000 after acquiring an additional 2,343 shares during the period. 91.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CZR shares. JMP Securities dropped their price objective on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Raymond James reduced their price target on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 19th. Jefferies Financial Group decreased their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Caesars Entertainment Price Performance

Shares of CZR opened at $25.67 on Friday. The stock has a market cap of $5.44 billion, a P/E ratio of -15.37 and a beta of 2.97. Caesars Entertainment, Inc. has a 1 year low of $25.43 and a 1 year high of $45.93. The stock’s 50-day moving average price is $32.79 and its two-hundred day moving average price is $36.60. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.