DAVENPORT & Co LLC Buys 3,192,224 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

DAVENPORT & Co LLC grew its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 1,051.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,495,915 shares of the company's stock after acquiring an additional 3,192,224 shares during the period. DAVENPORT & Co LLC owned about 1.65% of Caesars Entertainment worth $87,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Proficio Capital Partners LLC bought a new position in shares of Caesars Entertainment during the fourth quarter worth $478,000. Jones Financial Companies Lllp grew its position in shares of Caesars Entertainment by 219.6% during the fourth quarter. Jones Financial Companies Lllp now owns 3,410 shares of the company's stock valued at $114,000 after purchasing an additional 2,343 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Caesars Entertainment during the fourth quarter valued at about $73,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caesars Entertainment by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company's stock worth $62,728,000 after buying an additional 11,671 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Caesars Entertainment by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 825,003 shares of the company's stock worth $27,572,000 after buying an additional 8,603 shares in the last quarter. Institutional investors own 91.79% of the company's stock.

Analysts Set New Price Targets

CZR has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $51.00 to $47.00 in a research report on Thursday, April 3rd. Truist Financial lowered their price objective on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JMP Securities reissued 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, Barclays upped their target price 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. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Caesars Entertainment Trading Up 0.1%

Shares of NASDAQ:CZR traded up $0.03 during trading hours on Wednesday, hitting $29.64. 7,757,895 shares of the company's stock traded hands, compared to its average volume of 4,957,922. The firm has a market capitalization of $6.16 billion, a P/E ratio of -27.19, a price-to-earnings-growth ratio of 3.12 and a beta of 2.30. The business has a fifty day moving average price of $27.89 and a 200-day moving average price of $30.16. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 2.08% and a negative return on equity of 2.60%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned ($0.73) EPS. The business's revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.