Cannell Capital LLC Purchases Shares of 403,882 Caesars Entertainment, Inc. (NASDAQ:CZR)

Cannell Capital LLC purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 403,882 shares of the company's stock, valued at approximately $13,498,000. Caesars Entertainment comprises 2.8% of Cannell Capital LLC's holdings, making the stock its 17th largest position. Cannell Capital LLC owned approximately 0.19% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CZR. Bogart Wealth LLC boosted its position in shares of Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company's stock valued at $28,000 after acquiring an additional 800 shares during the period. FIL Ltd acquired a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $28,000. Resona Asset Management Co. Ltd. bought a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $44,000. Quarry LP acquired a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $68,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $73,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Price Performance

CZR traded down $0.12 on Friday, reaching $25.33. The stock had a trading volume of 4,470,156 shares, compared to its average volume of 4,811,390. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of -15.17 and a beta of 2.67. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The firm has a 50-day moving average of $30.36 and a 200-day moving average of $35.35.

Remove Ads

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CZR. Barclays lowered their price objective on Caesars Entertainment from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on shares of Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. Finally, Jefferies Financial Group cut their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment has an average rating of "Moderate Buy" and an average target price of $49.14.

Caesars Entertainment Profile

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.