DoubleLine ETF Adviser LP Takes $259,000 Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

DoubleLine ETF Adviser LP bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,506 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of Caesars Entertainment by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the company’s stock worth $728,000 after buying an additional 580 shares in the last quarter. Assetmark Inc. grew its holdings in Caesars Entertainment by 25.2% during the 4th quarter. Assetmark Inc. now owns 3,397 shares of the company’s stock worth $159,000 after acquiring an additional 684 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Caesars Entertainment by 8.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 58,421 shares of the company’s stock valued at $2,739,000 after purchasing an additional 4,787 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Caesars Entertainment by 41.9% in the 4th quarter. Hsbc Holdings PLC now owns 411,286 shares of the company’s stock valued at $19,425,000 after purchasing an additional 121,505 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Caesars Entertainment by 84.8% during the 4th quarter. TD Asset Management Inc now owns 489,577 shares of the company’s stock worth $22,951,000 after purchasing an additional 224,629 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of CZR opened at $41.08 on Friday. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. Caesars Entertainment, Inc. has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The firm has a 50-day simple moving average of $37.20 and a 200-day simple moving average of $37.89. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 11.64 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley cut their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group cut their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, JMP Securities boosted their price objective on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $54.14.

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.