Wedbush Securities Inc. Acquires 1,100 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Wedbush Securities Inc. raised its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.4% in the fourth quarter, HoldingsChannel reports. The firm owned 18,297 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Wedbush Securities Inc.’s holdings in Caesars Entertainment were worth $611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CZR. Vanguard Group Inc. lifted its position in shares of Caesars Entertainment by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock worth $780,854,000 after purchasing an additional 100,263 shares during the period. Norges Bank purchased a new stake in Caesars Entertainment in the fourth quarter worth about $75,058,000. Appaloosa LP lifted its holdings in Caesars Entertainment by 2.3% in the fourth quarter. Appaloosa LP now owns 2,200,000 shares of the company’s stock worth $73,524,000 after buying an additional 50,000 shares during the period. Assenagon Asset Management S.A. boosted its position in Caesars Entertainment by 383.1% during 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 acquiring an additional 1,697,443 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 11,671 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR opened at $23.75 on Tuesday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -14.22 and a beta of 2.67. The business’s fifty day simple moving average is $31.61 and its two-hundred day simple moving average is $35.97. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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. Research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Macquarie lowered their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. TD Cowen reduced their target price 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. Stifel Nicolaus lowered their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.80.

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.