Perella Weinberg Partners Capital Management LP Invests $14.94 Million in Caesars Entertainment Co. (NASDAQ:CZR)

Perella Weinberg Partners Capital Management LP bought a new position in Caesars Entertainment Co. (NASDAQ:CZR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,263,894 shares of the company’s stock, valued at approximately $14,939,000.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC bought a new position in shares of Caesars Entertainment in the first quarter worth about $25,000. Meridian Wealth Management LLC bought a new position in shares of Caesars Entertainment in the first quarter worth about $28,000. Machina Capital S.A.S. bought a new position in shares of Caesars Entertainment in the second quarter worth about $53,000. Dfpg Investments Inc. bought a new position in shares of Caesars Entertainment in the first quarter worth about $91,000. Finally, Falcon Point Capital LLC bought a new position in Caesars Entertainment in the 1st quarter valued at approximately $105,000.

NASDAQ CZR traded down $0.04 during trading hours on Friday, reaching $11.76. The company’s stock had a trading volume of 459,487 shares, compared to its average volume of 14,863,115. The company’s fifty day simple moving average is $11.47. The firm has a market capitalization of $7.94 billion, a PE ratio of -61.61 and a beta of 1.43. Caesars Entertainment Co. has a 52 week low of $5.84 and a 52 week high of $12.23. The company has a debt-to-equity ratio of 6.02, a quick ratio of 1.10 and a current ratio of 1.12.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Caesars Entertainment had a negative return on equity of 9.84% and a net margin of 1.41%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that Caesars Entertainment Co. will post -0.46 earnings per share for the current year.

CZR has been the subject of a number of research reports. BidaskClub upgraded shares of Caesars Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Morgan Stanley lowered shares of Caesars Entertainment from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $11.00 to $12.50 in a report on Tuesday, June 25th. Zacks Investment Research lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Friday, July 19th. SunTrust Banks lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price objective for the company. in a report on Tuesday, June 25th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $11.00 price objective on shares of Caesars Entertainment in a report on Sunday, May 5th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.88.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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