Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Acquired by Capital Research Global Investors

Capital Research Global Investors increased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,811,919 shares of the company’s stock after buying an additional 2,555,876 shares during the quarter. Capital Research Global Investors owned about 9.32% of Caesars Entertainment worth $662,088,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CZR. Norges Bank bought a new position in shares of Caesars Entertainment in the fourth quarter worth $75,058,000. Cohen & Steers Inc. raised its position in shares of Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after buying an additional 1,882,728 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $71,536,000 after acquiring an additional 1,697,443 shares during the period. Invesco Ltd. increased its stake in shares of Caesars Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the period. Finally, ING Groep NV bought a new stake in Caesars Entertainment during the fourth quarter worth approximately $35,797,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CZR has been the topic of a number of research reports. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday. Stifel Nicolaus cut their price objective on 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, Susquehanna decreased their target price on Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

Caesars Entertainment Stock Up 3.1 %

CZR stock opened at $25.52 on Friday. The company has a 50 day moving average of $29.30 and a two-hundred day moving average of $34.82. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -15.28 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last issued 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. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

About Caesars Entertainment

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.