Aristeia Capital L.L.C. Purchases New Shares in Caesars Entertainment, Inc. (NASDAQ:CZR)

Aristeia Capital L.L.C. bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,670 shares of the company's stock, valued at approximately $390,000.

Several other institutional investors and hedge funds have also bought and sold shares of CZR. Bogart Wealth LLC grew its stake in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company's stock worth $28,000 after buying an additional 800 shares during the last quarter. FIL Ltd purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth $28,000. Resona Asset Management Co. Ltd. bought a new position in Caesars Entertainment in the 4th quarter worth about $44,000. Canada Pension Plan Investment Board raised its holdings in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock worth $53,000 after acquiring an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Caesars Entertainment during the fourth quarter valued at $71,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

NASDAQ CZR traded down $0.77 during trading hours on Tuesday, reaching $26.85. The company's stock had a trading volume of 4,571,583 shares, compared to its average volume of 4,912,756. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The firm's 50-day moving average price is $27.11 and its 200-day moving average price is $33.42. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -16.08 and a beta of 2.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period last year, the company earned ($0.73) earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CZR. Barclays increased their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Raymond James cut their price objective on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 19th. Stifel Nicolaus cut their price target on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. JMP Securities reiterated a "market outperform" rating and issued a $45.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, April 30th. Finally, Truist Financial reduced their target price on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.64.

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.