Caesars Entertainment, Inc. $CZR Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its stake in Caesars Entertainment by 22.9%, acquiring 1,269,911 shares to reach a total of 6,823,286 shares, representing approximately 3.28% of the company with a value of $170.58 million.
• Several institutional investors have similarly boosted their holdings in Caesars, with Mather Group LLC and Allworth Financial LP increasing their stakes by 64.4% and 97.8%, respectively, during the first quarter.
• Analyst ratings remain positive with a consensus average of "Moderate Buy" and a price target of $42.47, despite recent price target reductions by some firms to values as low as $31.00.

Invesco Ltd. increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,823,286 shares of the company's stock after acquiring an additional 1,269,911 shares during the quarter. Invesco Ltd. owned about 3.28% of Caesars Entertainment worth $170,582,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CZR. Envestnet Asset Management Inc. increased its stake in Caesars Entertainment by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 131,835 shares of the company's stock valued at $4,406,000 after purchasing an additional 6,779 shares in the last quarter. Bank of Nova Scotia acquired a new position in Caesars Entertainment during the 4th quarter valued at approximately $331,000. Sterling Capital Management LLC increased its stake in Caesars Entertainment by 53.0% during the 4th quarter. Sterling Capital Management LLC now owns 12,547 shares of the company's stock valued at $419,000 after purchasing an additional 4,347 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Caesars Entertainment during the 4th quarter valued at approximately $71,000. Finally, Guggenheim Capital LLC increased its stake in Caesars Entertainment by 44.5% during the 4th quarter. Guggenheim Capital LLC now owns 19,626 shares of the company's stock valued at $656,000 after purchasing an additional 6,047 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CZR. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Susquehanna dropped their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley dropped their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Price Performance

NASDAQ:CZR traded up $0.18 during trading hours on Monday, reaching $25.51. 1,690,507 shares of the company were exchanged, compared to its average volume of 5,556,617. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock's 50-day moving average is $27.99 and its 200-day moving average is $28.84. The firm has a market cap of $5.30 billion, a PE ratio of -27.73 and a beta of 2.40. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93.

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