Legal & General Group Plc Sells 20,164 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Legal & General Group Plc lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 298,573 shares of the company's stock after selling 20,164 shares during the quarter. Legal & General Group Plc owned 0.14% of Caesars Entertainment worth $9,978,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Caesars Entertainment in the 4th quarter valued at approximately $75,058,000. Assenagon Asset Management S.A. lifted its position in Caesars Entertainment by 383.1% in 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 acquiring an additional 1,697,443 shares during the last quarter. Invesco Ltd. raised its position in Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after purchasing an additional 1,213,426 shares during the last quarter. ING Groep NV acquired a new position in Caesars Entertainment in the 4th quarter valued at about $35,797,000. Finally, Contrarius Group Holdings Ltd acquired a new position in Caesars Entertainment in the 4th quarter valued at $32,402,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 3.3 %

Shares of Caesars Entertainment stock traded up $0.87 during trading on Wednesday, reaching $27.62. 2,717,802 shares of the company traded hands, compared to its average volume of 4,848,872. The firm has a market capitalization of $5.86 billion, a PE ratio of -16.54 and a beta of 2.67. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a 50 day moving average price of $28.84 and a 200-day moving average price of $34.56. 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 (NASDAQ:CZR - Get Free Report) last issued 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. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CZR. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Susquehanna dropped their target price on shares of Caesars Entertainment from $30.00 to $23.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Raymond James decreased their price objective on shares of Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 19th. TD Cowen dropped their target price on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Finally, JMP Securities dropped their price target on shares of Caesars Entertainment from $53.00 to $45.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.43.

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.