Caesars Entertainment, Inc. $CZR Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Caesars Entertainment by 103.5%, acquiring a total of 166,209 shares valued at approximately $4.7 million.
• Multiple large investors have also significantly boosted their holdings in Caesars, with increases ranging from 64.4% to 97.8% this year, highlighting strong institutional interest in the company.
• Analysts have mixed sentiments on Caesars' stock, with price targets varying, but the consensus rating is a "Moderate Buy" with an average price target of $42.33.

Assenagon Asset Management S.A. lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 103.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,209 shares of the company's stock after acquiring an additional 84,545 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Caesars Entertainment worth $4,719,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CZR. Mather Group LLC. boosted its stake in Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after buying an additional 405 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company's stock worth $33,000 after buying an additional 478 shares during the last quarter. Allworth Financial LP boosted its stake in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after buying an additional 662 shares during the last quarter. Bogart Wealth LLC boosted its stake in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after buying an additional 700 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after buying an additional 477 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CZR shares. Morgan Stanley decreased their price target on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Susquehanna reduced their price objective on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Finally, JMP Securities reduced their price objective on Caesars Entertainment from $43.00 to $41.00 and set a "market outperform" rating on the stock in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $26.34 on Thursday. The company has a market cap of $5.48 billion, a P/E ratio of -28.63 and a beta of 2.24. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The business's 50-day simple moving average is $26.45 and its 200 day simple moving average is $27.16.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) earnings per share. On average, sell-side analysts forecast 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.

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