Vanguard Group Inc. Acquires 183,963 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Vanguard Group Inc. raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,548,822 shares of the company’s stock after purchasing an additional 183,963 shares during the quarter. Vanguard Group Inc. owned 11.32% of Caesars Entertainment worth $588,721,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wealthspire Advisors LLC bought a new position in Caesars Entertainment in the first quarter valued at about $248,000. ING Groep NV raised its position in Caesars Entertainment by 69.6% in the first quarter. ING Groep NV now owns 1,816,931 shares of the company’s stock valued at $45,423,000 after purchasing an additional 745,793 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Caesars Entertainment in the first quarter valued at about $860,000. XTX Topco Ltd bought a new position in Caesars Entertainment in the first quarter valued at about $1,915,000. Finally, GSA Capital Partners LLP bought a new position in Caesars Entertainment in the first quarter valued at about $540,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CZR has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Barclays decreased their price target on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Cfra reissued a “hold” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Truist Financial decreased their price target on Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Caesars Entertainment Trading Up 4.5%

NASDAQ CZR opened at $25.74 on Thursday. The business has a 50 day simple moving average of $28.00 and a 200 day simple moving average of $29.07. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The stock has a market capitalization of $5.35 billion, a P/E ratio of -27.98 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned ($0.56) EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share 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.