Rhumbline Advisers Acquires 118,581 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Rhumbline Advisers boosted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 38.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 424,448 shares of the company’s stock after acquiring an additional 118,581 shares during the period. Rhumbline Advisers owned 0.20% of Caesars Entertainment worth $10,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Caesars Entertainment by 40.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,550 shares of the company’s stock worth $779,000 after acquiring an additional 6,778 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Caesars Entertainment by 36.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,566 shares of the company’s stock worth $286,000 after purchasing an additional 2,278 shares during the period. Asset Management One Co. Ltd. increased its stake in Caesars Entertainment by 23.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 5,063 shares of the company’s stock worth $168,000 after acquiring an additional 969 shares during the period. Bogart Wealth LLC increased its stake in Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Caesars Entertainment during the 4th quarter worth $760,000. 91.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the topic of a number of recent analyst reports. Raymond James decreased their price target on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 19th. Macquarie decreased their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Barclays raised their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Truist Financial decreased their target price on shares of Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.77.

Caesars Entertainment Stock Up 3.9%

Shares of Caesars Entertainment stock opened at $26.74 on Tuesday. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock’s 50-day moving average is $26.97 and its 200 day moving average is $31.22. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -16.01 and a beta of 2.31.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.73) earnings per share. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.