Bank of Nova Scotia Acquires Shares of 9,907 Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of Nova Scotia bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,907 shares of the company’s stock, valued at approximately $331,000.

Other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in shares of Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares during the last quarter. FIL Ltd purchased a new stake in Caesars Entertainment in the 4th quarter valued at about $28,000. Resona Asset Management Co. Ltd. bought a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $44,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $73,000. Finally, Avior Wealth Management LLC grew its holdings in shares of Caesars Entertainment by 12,577.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock valued at $76,000 after acquiring an additional 2,264 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JMP Securities reduced their price objective on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Barclays lowered their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Macquarie cut their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Raymond James dropped their target price on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company lowered their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.64.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $25.07 on Wednesday. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -15.01 and a beta of 2.67. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock’s 50 day simple moving average is $29.92 and its two-hundred day simple moving average is $35.16. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. As a group, analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

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.