Caesars Entertainment (NASDAQ:CZR) Shares Gap Up – Should You Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR) gapped up prior to trading on Thursday . The stock had previously closed at $35.60, but opened at $37.31. Caesars Entertainment shares last traded at $38.13, with a volume of 1,240,824 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CZR. Stifel Nicolaus cut their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley upped their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Barclays cut their price target on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.21.

Caesars Entertainment Price Performance

The stock has a market cap of $7.99 billion, a P/E ratio of -22.55 and a beta of 2.90. 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 business’s 50-day simple moving average is $34.56 and its two-hundred day simple moving average is $37.76.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Caesars Entertainment by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock valued at $4,734,000 after purchasing an additional 4,840 shares during the period. Key Colony Management LLC bought a new position in Caesars Entertainment in the 4th quarter valued at $6,350,000. National Bank of Canada FI grew its position in shares of Caesars Entertainment by 87.2% during the 3rd quarter. National Bank of Canada FI now owns 109,526 shares of the company’s stock valued at $4,572,000 after purchasing an additional 51,034 shares in the last quarter. LMR Partners LLP bought a new position in Caesars Entertainment in the 3rd quarter worth about $903,000. Finally, DAVENPORT & Co LLC increased its position in shares of Caesars Entertainment by 5,639.8% in the fourth quarter. DAVENPORT & Co LLC now owns 303,691 shares of the company’s stock worth $10,149,000 after purchasing an additional 298,400 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.