Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 163,666 shares of the company's stock, valued at approximately $4,092,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CZR. Mather Group LLC. boosted its stake in shares of Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after buying an additional 405 shares during the period. Allworth Financial LP increased its holdings in Caesars Entertainment by 97.8% in the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after buying an additional 662 shares during the last quarter. Bogart Wealth LLC increased its holdings in Caesars Entertainment by 82.8% in the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after buying an additional 700 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in 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 buying an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Caesars Entertainment in the fourth quarter valued at $71,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CZR shares. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. JMP Securities cut their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 30th. Cfra reissued a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. Truist Financial cut their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Performance

Shares of CZR stock traded down $0.20 during midday trading on Friday, hitting $25.33. The company had a trading volume of 3,747,489 shares, compared to its average volume of 6,846,191. The company's 50 day simple moving average is $27.99 and its 200 day simple moving average is $28.89. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -27.53 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the business posted ($0.56) earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal 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.