Capital Research Global Investors Purchases 2,555,876 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Capital Research Global Investors boosted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,811,919 shares of the company's stock after purchasing an additional 2,555,876 shares during the period. Capital Research Global Investors owned about 9.32% of Caesars Entertainment worth $662,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $75,058,000. Cohen & Steers Inc. increased its position in Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock worth $487,265,000 after buying an additional 1,882,728 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Caesars Entertainment by 383.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company's stock valued at $71,536,000 after buying an additional 1,697,443 shares during the period. Invesco Ltd. lifted its position in shares of Caesars Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after buying an additional 1,213,426 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $35,797,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Up 4.2 %

Shares of CZR stock traded up $1.13 during trading hours on Friday, hitting $28.30. 2,824,747 shares of the company were exchanged, compared to its average volume of 4,887,980. The company has a 50 day simple moving average of $28.33 and a two-hundred day simple moving average of $34.39. The firm has a market cap of $6.00 billion, a P/E ratio of -16.99 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. 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 - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.81 billion. Equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

CZR has been the topic of several research reports. Macquarie decreased their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. JMP Securities decreased their price target on Caesars Entertainment from $53.00 to $45.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $51.00 to $47.00 in a research report on Thursday, April 3rd. Raymond James dropped their target price on shares of Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $45.86.

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.