Principal Financial Group Inc. Reduces Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Principal Financial Group Inc. lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,277,956 shares of the company's stock after selling 176,564 shares during the period. Principal Financial Group Inc. owned 0.60% of Caesars Entertainment worth $42,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bogart Wealth LLC raised its stake in Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company's stock worth $28,000 after acquiring an additional 800 shares during the last quarter. Huntington National Bank boosted its position in Caesars Entertainment by 3,203.8% in 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. Quarry LP acquired a new position in Caesars Entertainment in the 3rd quarter worth approximately $68,000. Avior Wealth Management LLC raised its position in Caesars Entertainment by 12,577.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company's stock worth $76,000 after buying an additional 2,264 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company's stock valued at $116,000 after acquiring an additional 248 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR traded down $2.42 during midday trading on Friday, hitting $35.34. The stock had a trading volume of 6,997,075 shares, compared to its average volume of 4,458,555. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a 50 day simple moving average of $34.76 and a 200-day simple moving average of $37.82. The company has a market capitalization of $7.51 billion, a PE ratio of -21.16 and a beta of 2.90. Caesars Entertainment, Inc. has a 1 year low of $30.78 and a 1 year high of $45.93.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. StockNews.com raised Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Stifel Nicolaus reduced their price target on Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group lowered their price objective on Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Finally, TD Cowen dropped their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.21.

About Caesars Entertainment

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.