EdgePoint Investment Group Inc. Sells 4,920,384 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

EdgePoint Investment Group Inc. lessened its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 99.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,145 shares of the company's stock after selling 4,920,384 shares during the period. EdgePoint Investment Group Inc.'s holdings in Caesars Entertainment were worth $205,000 as of its most recent SEC filing.

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

Caesars Entertainment Stock Performance

Shares of CZR stock traded up $2.05 during trading on Monday, reaching $30.08. The company had a trading volume of 6,863,163 shares, compared to its average volume of 4,929,587. The company has a market capitalization of $6.26 billion, a PE ratio of -18.01 and a beta of 2.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm's 50 day simple moving average is $26.73 and its two-hundred day simple moving average is $32.87.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share 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 analyst estimates of $2.82 billion. During the same period in the prior year, the company earned ($0.73) earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CZR. 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 report on Wednesday, February 26th. Susquehanna raised their price target on shares of Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Morgan Stanley dropped their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.77.

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.