State of Alaska Department of Revenue Acquires 665 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

State of Alaska Department of Revenue lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,891 shares of the company’s stock after purchasing an additional 665 shares during the quarter. State of Alaska Department of Revenue’s holdings in Caesars Entertainment were worth $622,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CZR. Vanguard Group Inc. boosted its stake in 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. Capital Research Global Investors raised its holdings in shares of Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after buying an additional 2,555,876 shares in the last quarter. Cohen & Steers Inc. raised its holdings 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 valued at $487,265,000 after buying an additional 1,882,728 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Caesars Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after buying an additional 1,213,426 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Caesars Entertainment by 41.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company’s stock valued at $122,274,000 after buying an additional 1,065,506 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $28.86 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 5.84. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The business has a 50-day moving average price of $27.76 and a 200 day moving average price of $30.27. The firm has a market cap of $6.00 billion, a PE ratio of -26.48, a P/E/G ratio of 1.86 and a beta of 2.31.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CZR. Barclays raised their price target on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Stifel Nicolaus cut their price objective on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Capital One Financial upgraded Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $51.00 to $47.00 in a research report on Thursday, April 3rd. JMP Securities restated a “market outperform” rating and set a $45.00 price target on shares of Caesars Entertainment in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. began coverage on Caesars Entertainment in a research report on Monday, June 23rd. They set an “overweight” rating and a $47.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.