Vanguard Group Inc. Increases Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Vanguard Group Inc. increased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,559,890 shares of the company’s stock after purchasing an additional 148,034 shares during the quarter. Vanguard Group Inc. owned 10.89% of Caesars Entertainment worth $1,104,488,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital World Investors lifted its stake in shares of Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the last quarter. HG Vora Capital Management LLC lifted its stake in shares of Caesars Entertainment by 2.0% during the 4th quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after acquiring an additional 100,000 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Caesars Entertainment by 8.7% during the 3rd quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after acquiring an additional 293,078 shares during the last quarter. Norges Bank purchased a new position in Caesars Entertainment in the 4th quarter worth about $102,213,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Caesars Entertainment by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,165,196 shares of the company’s stock worth $101,504,000 after buying an additional 112,458 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $38.80 on Friday. The company has a market capitalization of $8.40 billion, a PE ratio of 10.99 and a beta of 2.89. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The company has a 50-day simple moving average of $36.42 and a two-hundred day simple moving average of $41.29. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Research analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CZR. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Morgan Stanley increased their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Raymond James started coverage on Caesars Entertainment in a research note on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.07.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now owns 350 shares of the company’s stock, valued at $11,382. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now owns 350 shares of the company’s stock, valued at $11,382. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram purchased 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now 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. Corporate insiders own 0.64% of the company’s stock.

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.