TLDR
- Contrarius Group Holdings slashed its CZR position by 83.3% in Q3, selling over 2.1 million shares
- Cooper Creek Partners Management took the opposite view, building a new $74.15 million stake in Q4
- CZR is down roughly 27% over the past year, trading around $24.25–$24.64
- Q4 earnings missed EPS estimates badly — reporting ($1.23) vs. the ($0.18) expected — though revenue of $2.92 billion edged past forecasts
- Caesars Digital was a bright spot, delivering $85 million in quarterly Adjusted EBITDA, up from $20 million a year ago
Caesars Entertainment is getting pulled in two directions right now. One major investor just slammed the exit. Another just walked in the door with $74 million.
Caesars Entertainment, Inc., CZR
Contrarius Group Holdings cut its CZR position by 83.3% in Q3, offloading 2,151,591 shares. It now holds just 431,645 shares, worth about $11.67 million — a position that makes up just 0.5% of its overall portfolio.
Meanwhile, Cooper Creek Partners Management went the other way. The firm disclosed a brand new stake of 3,170,216 shares, valued at $74.15 million at the end of Q4. That puts CZR at 3.5% of Cooper Creek’s assets under management.
The broader institutional picture remains committed — hedge funds and institutional investors collectively own 91.79% of CZR.
The stock has had a rough year. CZR is down about 27% over the past 12 months, trading around $24.25 to $24.64, while the S&P 500 has gained roughly 17% in the same period. The 52-week range sits between $17.86 and $34.22.
Earnings didn’t help sentiment. On February 17, Caesars reported Q4 EPS of ($1.23), missing the consensus estimate of ($0.18) by a wide margin. Revenue came in at $2.92 billion, slightly above the $2.89 billion analysts expected, and up 4.2% year-over-year.
For the full year, Caesars posted a net loss of $502 million on $11.5 billion in total revenue. The company carries $11.9 billion in debt and has a debt-to-equity ratio of 3.17.
Caesars Digital Showing Real Progress
The digital segment is the part of the business drawing attention. Caesars Digital posted $85 million in Adjusted EBITDA for Q4, compared to $20 million in the same quarter last year. For the full year, digital EBITDA more than doubled to $236 million.
Same-store Adjusted EBITDA came in at $901 million for Q4, up from the prior year period.
Management has said it expects lower capital expenditure and declining cash interest expense in 2026, with a focus on reducing leverage through stronger free cash flow.
Analyst Price Targets Mixed
Analyst opinion is spread across the board. Morgan Stanley cut its price target from $27 to $25 on February 25, keeping an “equal weight” rating.
Stifel Nicolaus dropped its target from $39 to $36 but held a “buy” rating, also on February 18.
Susquehanna upgraded CZR from “neutral” to “positive” in January, lifting its target to $31.
Wells Fargo started coverage in November with an “equal weight” rating and a $21 target.
Citigroup reiterated a “market outperform” in December.
The consensus across analysts sits at “Moderate Buy” with an average price target of $33.24 — well above where CZR is currently trading.
Analysts expect full-year EPS of ($0.77) for the current year.
