National Bank of Canada FI Acquires 190,538 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

National Bank of Canada FI boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 275.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,754 shares of the company’s stock after acquiring an additional 190,538 shares during the quarter. National Bank of Canada FI’s holdings in Caesars Entertainment were worth $12,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CZR. Federated Hermes Inc. increased its position in Caesars Entertainment by 26.4% during the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after acquiring an additional 9,270 shares during the last quarter. Choreo LLC increased its position in Caesars Entertainment by 39.1% during the fourth quarter. Choreo LLC now owns 17,678 shares of the company’s stock valued at $829,000 after acquiring an additional 4,970 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Caesars Entertainment by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after acquiring an additional 77,595 shares during the last quarter. GSA Capital Partners LLP bought a new position in Caesars Entertainment during the third quarter valued at $2,259,000. Finally, Strs Ohio increased its position in Caesars Entertainment by 33.2% during the fourth quarter. Strs Ohio now owns 676,706 shares of the company’s stock valued at $31,723,000 after acquiring an additional 168,738 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Down 0.4 %

NASDAQ CZR opened at $36.22 on Thursday. The stock has a market cap of $7.84 billion, a P/E ratio of 10.26 and a beta of 2.83. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. Caesars Entertainment, Inc. has a 12-month low of $35.09 and a 12-month high of $60.27. The company has a fifty day simple moving average of $40.36 and a two-hundred day simple moving average of $42.96.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. On average, analysts forecast that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CZR. Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays cut their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Wells Fargo & Company cut their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, TD Cowen dropped their target price on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $53.83.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram acquired 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the acquisition, the director now owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Pegram purchased 40,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is owned by corporate insiders.

Caesars Entertainment 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.