ExodusPoint Capital Management LP raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 153.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,402 shares of the company's stock after acquiring an additional 183,799 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.14% of Caesars Entertainment worth $10,140,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CZR. Norges Bank bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $75,058,000. Assenagon Asset Management S.A. grew its position in shares of Caesars Entertainment by 383.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company's stock valued at $71,536,000 after purchasing an additional 1,697,443 shares in the last quarter. ING Groep NV purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth about $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. purchased a new position in Caesars Entertainment during the 3rd quarter valued at approximately $26,721,000. Institutional investors own 91.79% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Barclays lowered their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Macquarie decreased their price target on Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group dropped their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $49.80.
View Our Latest Analysis on Caesars Entertainment
Caesars Entertainment Stock Down 8.9 %
CZR traded down $2.44 during trading hours on Thursday, reaching $25.13. 1,523,962 shares of the stock traded hands, compared to its average volume of 4,782,974. 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 fifty-two week low of $21.40 and a fifty-two week high of $45.93. The firm's fifty day simple moving average is $30.78 and its two-hundred day simple moving average is $35.60. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -15.06 and a beta of 2.67.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 net margin of 3.20% and a negative return on equity of 4.44%. As a group, analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.
Caesars Entertainment Profile
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Free Report)
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.
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