Axxcess Wealth Management LLC Increases Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Axxcess Wealth Management LLC increased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 38.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,764 shares of the company’s stock after acquiring an additional 4,122 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Caesars Entertainment were worth $493,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after acquiring an additional 1,983,151 shares in the last quarter. Appaloosa LP raised its stake in Caesars Entertainment by 2.3% in the 4th quarter. Appaloosa LP now owns 2,200,000 shares of the company’s stock valued at $73,524,000 after purchasing an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Caesars Entertainment by 383.1% in the 4th 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. Charles Schwab Investment Management Inc. boosted its stake in Caesars Entertainment by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock worth $62,728,000 after purchasing an additional 11,671 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Caesars Entertainment during the third quarter worth $61,890,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target 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. Raymond James lowered 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. Truist Financial cut 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. Macquarie lowered their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $27.36 on Friday. Caesars Entertainment, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $45.93. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The company has a 50 day moving average price of $33.39 and a 200 day moving average price of $36.92. The stock has a market capitalization of $5.80 billion, a P/E ratio of -16.38 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.81 billion. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.