Aryeh Capital Management Ltd. Acquires Shares of 173,800 Caesars Entertainment, Inc. (NASDAQ:CZR)

Aryeh Capital Management Ltd. purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the third quarter, HoldingsChannel.com reports. The fund purchased 173,800 shares of the company’s stock, valued at approximately $7,254,000. Caesars Entertainment makes up about 4.4% of Aryeh Capital Management Ltd.’s investment portfolio, making the stock its 10th largest position.

A number of other large investors also recently modified their holdings of the business. Hsbc Holdings PLC increased its holdings in shares of Caesars Entertainment by 42.7% in the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock worth $19,148,000 after acquiring an additional 145,201 shares during the period. Entropy Technologies LP acquired a new stake in shares of Caesars Entertainment in the 3rd quarter worth about $1,300,000. Comerica Bank increased its holdings in shares of Caesars Entertainment by 345.0% in the 1st quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after acquiring an additional 83,231 shares during the period. LMR Partners LLP acquired a new stake in shares of Caesars Entertainment in the 3rd quarter worth about $903,000. Finally, Gabelli Funds LLC increased its holdings in shares of Caesars Entertainment by 28.0% in the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after acquiring an additional 31,500 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Performance

Shares of 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 company has a 50-day moving average of $41.43 and a two-hundred day moving average of $38.41. The stock has a market cap 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 posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, equities research analysts expect that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CZR. JMP Securities lowered their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Macquarie reissued an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.