Focus Partners Wealth Acquires New Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Focus Partners Wealth bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,263 shares of the company's stock, valued at approximately $844,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CZR. Bogart Wealth LLC raised its stake in shares of Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company's stock valued at $28,000 after acquiring an additional 800 shares during the period. FIL Ltd purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at $28,000. Resona Asset Management Co. Ltd. acquired a new position in Caesars Entertainment during the 4th quarter valued at approximately $44,000. Canada Pension Plan Investment Board raised its stake in shares of Caesars Entertainment by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock worth $53,000 after purchasing an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Caesars Entertainment during the fourth quarter valued at $71,000. 91.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent research reports. TD Cowen reduced their price target on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Barclays boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Macquarie cut their price objective on Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their price objective on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.77.

Caesars Entertainment Trading Down 0.6%

Shares of NASDAQ CZR traded down $0.18 during midday trading on Friday, reaching $27.69. 4,038,433 shares of the stock were exchanged, compared to its average volume of 4,923,326. The company has a market capitalization of $5.76 billion, a P/E ratio of -16.58 and a beta of 2.51. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a 50 day moving average price of $27.02 and a 200-day moving average price of $32.18.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share 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 for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the firm earned ($0.73) earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts expect 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.