Penn Capital Management Company LLC Buys 158,782 Shares of Caesars Entertainment, Inc. $CZR

Penn Capital Management Company LLC lifted its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 26.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 759,842 shares of the company’s stock after purchasing an additional 158,782 shares during the period. Caesars Entertainment accounts for 1.4% of Penn Capital Management Company LLC’s holdings, making the stock its 16th biggest position. Penn Capital Management Company LLC’s holdings in Caesars Entertainment were worth $17,820,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after acquiring an additional 510 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the period. CoreCap Advisors LLC grew its stake in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the period. Stance Capital LLC bought a new stake in shares of Caesars Entertainment in the third quarter worth approximately $43,000. Finally, Zions Bancorporation National Association UT grew its stake in shares of Caesars Entertainment by 5,384.4% in the third quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company’s stock worth $47,000 after acquiring an additional 1,723 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $28.38 on Wednesday. The firm has a 50 day moving average of $27.22 and a 200 day moving average of $24.36. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.77. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the firm earned ($0.54) EPS. Caesars Entertainment’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Barclays cut their target price on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Citigroup boosted their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Finally, Stifel Nicolaus cut their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.27.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.