Prudential Financial Inc. Sells 19,597 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Prudential Financial Inc. cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,847 shares of the company's stock after selling 19,597 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Caesars Entertainment worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its position in Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company's stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 383.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company's stock valued at $71,536,000 after buying an additional 1,697,443 shares in the last quarter. ING Groep NV acquired a new position in Caesars Entertainment in the fourth quarter worth approximately $35,797,000. Contrarius Group Holdings Ltd bought a new position in Caesars Entertainment during the fourth quarter valued at approximately $32,402,000. Finally, Point72 Asset Management L.P. acquired a new stake in Caesars Entertainment in the third quarter valued at approximately $26,721,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CZR shares. Macquarie cut their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Barclays cut their target price on Caesars Entertainment from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. Finally, Raymond James decreased their target price on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.80.

Remove Ads

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded down $2.50 during mid-day trading on Thursday, hitting $23.77. The company had a trading volume of 12,083,911 shares, compared to its average volume of 4,678,382. Caesars Entertainment, Inc. has a 12 month low of $23.52 and a 12 month high of $45.93. The firm has a market cap of $5.04 billion, a P/E ratio of -14.23 and a beta of 2.97. The business's 50-day simple moving average is $32.06 and its 200-day simple moving average is $36.26. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

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

Caesars Entertainment Company 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.