Capital Research Global Investors Raises Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Capital Research Global Investors increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,811,919 shares of the company's stock after buying an additional 2,555,876 shares during the quarter. Capital Research Global Investors owned 9.32% of Caesars Entertainment worth $662,088,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Caesars Entertainment by 1.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company's stock worth $1,287,000 after acquiring an additional 408 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company's stock worth $2,098,000 after buying an additional 470 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Caesars Entertainment by 6.1% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock valued at $291,000 after buying an additional 500 shares during the last quarter. Contrarian Capital Management L.L.C. lifted its position in Caesars Entertainment by 0.4% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company's stock worth $3,944,000 after acquiring an additional 500 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in shares of Caesars Entertainment by 5.7% during the fourth quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company's stock worth $364,000 after acquiring an additional 587 shares during the period. Institutional investors own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CZR. JMP Securities cut their price target on Caesars Entertainment from $53.00 to $45.00 and set a "market outperform" rating for the company in a research note on Thursday, April 17th. Macquarie reduced their target price on Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley dropped their price target on Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Susquehanna reduced their price objective on shares of Caesars Entertainment from $30.00 to $23.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus dropped their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.86.

Caesars Entertainment Trading Up 1.7 %

Shares of NASDAQ:CZR traded up $0.45 during trading on Thursday, reaching $27.17. 7,544,595 shares of the company traded hands, compared to its average volume of 4,889,116. The business's fifty day moving average is $28.58 and its 200-day moving average is $34.51. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. 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 firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of -16.27 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates 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 forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.