Assenagon Asset Management S.A. Acquires 617,297 Shares of Caesars Entertainment, Inc. $CZR

Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 371.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 783,506 shares of the company’s stock after acquiring an additional 617,297 shares during the period. Assenagon Asset Management S.A. owned 0.38% of Caesars Entertainment worth $21,174,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CZR. JFS Wealth Advisors LLC boosted its holdings in Caesars Entertainment by 508.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock valued at $25,000 after purchasing an additional 722 shares during the period. UMB Bank n.a. increased its holdings in shares of Caesars Entertainment by 52.0% in the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after purchasing an additional 359 shares during the period. Farther Finance Advisors LLC raised its position in shares of Caesars Entertainment by 168.5% in the second quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock worth $32,000 after buying an additional 711 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Caesars Entertainment by 69.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after buying an additional 478 shares during the period. Finally, Hilltop National Bank bought a new stake in Caesars Entertainment during the second quarter valued at $35,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $24.38 on Friday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. Caesars Entertainment, Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $40.00. The firm has a market cap of $4.98 billion, a PE ratio of -21.20 and a beta of 2.04. The business has a 50 day moving average price of $21.85 and a 200-day moving average price of $25.21.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

CZR has been the topic of several research reports. The Goldman Sachs Group cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $25.00 to $24.00 in a research report on Monday, December 15th. JMP Securities reduced their target price on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 17th. Truist Financial dropped their price target on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Macquarie cut their price objective on Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Wall Street Zen lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.