Wright Investors Service Inc. Acquires Shares of 9,569 Caesars Entertainment, Inc. (NASDAQ:CZR)

Wright Investors Service Inc. acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,569 shares of the company’s stock, valued at approximately $449,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Caesars Entertainment by 0.6% in the third quarter. Vanguard Group Inc. now owns 23,411,856 shares of the company’s stock worth $1,085,140,000 after purchasing an additional 129,541 shares in the last quarter. BlackRock Inc. raised its position in Caesars Entertainment by 3.9% during the first quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock valued at $880,465,000 after acquiring an additional 676,512 shares in the last quarter. Point Break Capital Management LLC raised its position in Caesars Entertainment by 10.3% during the first quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after acquiring an additional 987,230 shares in the last quarter. State Street Corp raised its position in Caesars Entertainment by 4.4% during the second quarter. State Street Corp now owns 7,883,415 shares of the company’s stock valued at $401,818,000 after acquiring an additional 329,604 shares in the last quarter. Finally, Capital International Investors raised its position in Caesars Entertainment by 2.9% during the first quarter. Capital International Investors now owns 4,965,083 shares of the company’s stock valued at $384,099,000 after acquiring an additional 140,802 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $37.98 on Friday. The stock has a 50-day simple moving average of $41.88 and a 200 day simple moving average of $43.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. Caesars Entertainment, Inc. has a 12-month low of $37.87 and a 12-month high of $60.27. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 10.46 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm earned ($0.11) earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Caesars Entertainment, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael E. Pegram acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CZR shares. Susquehanna cut their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. JPMorgan Chase & Co. cut their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Finally, JMP Securities lowered their price target on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $57.91.

About Caesars Entertainment

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.