Quaker Capital Increases Caesars Entertainment Stake by 279,390 Shares, Valued at $6.46 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: NASDAQ.COM
- Increased Holdings: Quaker Capital Investments added 279,390 shares of Caesars Entertainment in Q3, raising its total to 1.08 million shares valued at $29.28 million, indicating strong confidence in the company.
- Investment Value Growth: This increase positions Caesars at 7.88% of Quaker Capital's AUM, despite its stock price declining about 30% over the past year, reflecting a belief in its underlying asset value.
- Financial Performance: Caesars reported flat revenue of $2.9 billion in Q3, but faced a net loss of $55 million, worsening from last year, highlighting profitability challenges despite strong digital platform performance.
- Debt Management: With total debt at $11.9 billion at quarter-end, Caesars generated sufficient cash flow to repurchase $100 million in stock, signaling management's confidence in the company's fundamentals.
Analyst Views on CZR
Wall Street analysts forecast CZR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CZR is 31.58 USD with a low forecast of 21.00 USD and a high forecast of 43.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
8 Buy
4 Hold
0 Sell
Moderate Buy
Current: 23.520
Low
21.00
Averages
31.58
High
43.00
Current: 23.520
Low
21.00
Averages
31.58
High
43.00
About CZR
Caesars Entertainment, Inc. is a casino-entertainment company and a diversified gaming and hospitality provider. The Company operates primarily under the Caesars, Harrah’s, Horseshoe, and Eldorado brand names. Its segments include Las Vegas, Regional, Caesars Digital, and Managed and Branded, in addition to Corporate and Other. It offers diversified gaming, entertainment and hospitality amenities, destinations, and a full suite of mobile and online gaming and sports betting experiences. The Company owns, leases or manages an aggregate of 53 domestic properties in 18 states. It also operates and conducts sports wagering across 32 jurisdictions in North America, 26 of which offer online sports betting, and operates iGaming in five jurisdictions in North America. It operates the Caesars Sportsbook app, the Caesars Racebook app, the Caesars Palace Online Casino app and the new Horseshoe Online Casino app. Its online casino games include slots, table games, live dealer and video poker.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
