Norges Bank bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,245,911 shares of the company's stock, valued at approximately $75,058,000. Norges Bank owned about 1.06% of Caesars Entertainment at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CZR. Bogart Wealth LLC grew its position in shares of Caesars Entertainment by 1,777.8% during the fourth 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. Quarry LP acquired a new stake in Caesars Entertainment during the 3rd quarter worth $68,000. Steward Partners Investment Advisory LLC purchased a new position in Caesars Entertainment during the 4th quarter worth $73,000. Avior Wealth Management LLC increased its stake in Caesars Entertainment by 12,577.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,282 shares of the company's stock valued at $76,000 after purchasing an additional 2,264 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of Caesars Entertainment by 219.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,410 shares of the company's stock valued at $114,000 after buying an additional 2,343 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CZR shares. Capital One Financial upgraded Caesars Entertainment from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $51.00 to $47.00 in a research report on Thursday. Raymond James dropped their target price on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 19th. Truist Financial decreased their price target on Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. TD Cowen lowered 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 report on Tuesday, February 4th. Finally, Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.80.
Read Our Latest Report on CZR
Caesars Entertainment Price Performance
Shares of NASDAQ CZR traded up $0.57 on Monday, hitting $23.75. The company's stock had a trading volume of 9,676,179 shares, compared to its average volume of 4,734,752. The stock has a 50 day moving average of $31.61 and a 200-day moving average of $35.97. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of -14.22 and a beta of 2.67. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. 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 announced its 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 firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.81 billion. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.
About Caesars Entertainment
(
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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