Ameriprise Financial Inc. Lowers Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Ameriprise Financial Inc. reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 55.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 76,365 shares of the company's stock after selling 96,445 shares during the period. Ameriprise Financial Inc.'s holdings in Caesars Entertainment were worth $2,552,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its position in Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after purchasing an additional 2,555,876 shares during the last quarter. Norges Bank purchased a new position in shares of Caesars Entertainment during the fourth quarter worth about $75,058,000. Cohen & Steers Inc. increased its position in Caesars Entertainment by 14.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after acquiring an additional 1,882,728 shares during the period. Invesco Ltd. raised its stake in Caesars Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Caesars Entertainment during the 4th quarter worth approximately $35,797,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CZR has been the subject of several recent research reports. Susquehanna increased their price target on Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Raymond James reduced 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 research note on Wednesday, March 19th. Morgan Stanley lowered their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Truist Financial cut their price target 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. Finally, JMP Securities restated a "market outperform" rating and issued a $45.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, April 30th. Three 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, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $43.77.

Caesars Entertainment Price Performance

Caesars Entertainment stock traded down $0.37 during trading hours on Friday, hitting $26.90. The stock had a trading volume of 5,334,923 shares, compared to its average volume of 4,931,109. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -16.11 and a beta of 2.51. The stock's fifty day moving average is $26.96 and its two-hundred day moving average is $31.80. 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 (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company posted ($0.73) earnings per share. Caesars Entertainment's revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

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.