Nordea Investment Management AB Cuts Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Nordea Investment Management AB lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 13.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 432,322 shares of the company's stock after selling 68,546 shares during the period. Nordea Investment Management AB owned 0.20% of Caesars Entertainment worth $14,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company's stock valued at $36,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. purchased a new stake in Caesars Entertainment during the 3rd quarter valued at $51,000. Quarry LP bought a new stake in shares of Caesars Entertainment in the 3rd quarter worth $68,000. GAMMA Investing LLC raised its stake in shares of Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company's stock worth $84,000 after purchasing an additional 403 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company's stock worth $116,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CZR. Jefferies Financial Group reduced their price objective on Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Barclays lowered their price target on Caesars Entertainment from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of "Moderate Buy" and an average target price of $52.43.

Caesars Entertainment Stock Performance

Shares of CZR stock traded down $1.07 during trading hours on Thursday, reaching $31.98. 4,428,668 shares of the company traded hands, compared to its average volume of 3,594,867. The firm has a 50-day moving average price of $36.51 and a 200 day moving average price of $38.22. The company has a market cap of $6.80 billion, a P/E ratio of -19.15 and a beta of 2.89. 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, Inc. has a 12-month low of $31.66 and a 12-month high of $47.99.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.55 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.