Caesars Entertainment (NASDAQ:CZR) Stock Price Down 4.8% - Time to Sell?

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) shares dropped 4.8% during trading on Friday . The stock traded as low as $26.82 and last traded at $26.89. Approximately 1,253,961 shares traded hands during trading, a decline of 71% from the average daily volume of 4,361,691 shares. The stock had previously closed at $28.25.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial dropped their target price on Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company cut their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Susquehanna upgraded shares of Caesars Entertainment from a "negative" rating to a "neutral" rating and set a $30.00 price target on the stock in a research note on Thursday, March 6th. Finally, TD Cowen cut their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

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Caesars Entertainment Stock Performance

The stock has a 50 day simple moving average of $33.31 and a 200 day simple moving average of $36.86. 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 company has a market cap of $5.93 billion, a price-to-earnings ratio of -16.74 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.20. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations 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 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in CZR. Bogart Wealth LLC raised its holdings in 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 in the last quarter. FIL Ltd acquired a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $28,000. Resona Asset Management Co. Ltd. acquired a new position in Caesars Entertainment in the fourth quarter valued at approximately $44,000. Canada Pension Plan Investment Board grew its holdings in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after purchasing an additional 800 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Caesars Entertainment during the 3rd quarter worth approximately $68,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.