Capital World Investors Buys 3,716,148 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Capital World Investors raised its Caesars stake by 29.8%, acquiring 3,716,148 shares to own 16,193,070 shares (about 7.93% of the company) valued at roughly $437.6 million.
• Caesars missed on EPS for the quarter (loss of $1.23 vs. -$0.18 expected) but beat on revenue ($2.92B), and Wall Street maintains a Moderate Buy consensus with an average target of $33.24.

Capital World Investors raised its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,193,070 shares of the company's stock after acquiring an additional 3,716,148 shares during the quarter. Capital World Investors owned about 7.93% of Caesars Entertainment worth $437,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CZR. Norges Bank purchased a new position in Caesars Entertainment in the 2nd quarter worth approximately $79,604,000. Nomura Holdings Inc. boosted its stake in shares of Caesars Entertainment by 654.5% in the 2nd quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company's stock worth $50,747,000 after buying an additional 1,550,589 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Caesars Entertainment in the second quarter worth $35,391,000. Amundi increased its position in Caesars Entertainment by 82.1% during the second quarter. Amundi now owns 2,025,951 shares of the company's stock valued at $60,049,000 after acquiring an additional 913,275 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company's stock valued at $39,982,000 after acquiring an additional 826,356 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Up 1.0%

Shares of CZR opened at $26.01 on Wednesday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -10.70, a PEG ratio of 61.75 and a beta of 1.94. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $31.58. The stock's 50-day moving average price is $22.69 and its 200-day moving average price is $23.27. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.05). The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. Caesars Entertainment's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

CZR has been the subject of a number of recent research reports. Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a research note on Tuesday. Wells Fargo & Company initiated coverage on Caesars Entertainment in a report on Tuesday, November 18th. They issued an "equal weight" rating and a $21.00 price target on the stock. Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Susquehanna raised shares of Caesars Entertainment from a "neutral" rating to a "positive" rating and raised their target price for the company from $25.00 to $31.00 in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Caesars Entertainment from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $33.24.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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