Nuveen LLC Buys New Position in Caesars Entertainment, Inc. $CZR

Key Points

• Nuveen LLC has invested approximately $10.83 million in Caesars Entertainment by purchasing 433,126 shares of the company, bringing its total ownership to about 0.21% as of the latest reporting period.
• Caesars Entertainment reported a loss of $0.39 per share for the quarter, significantly missing the consensus estimate of a profit, though revenue increased by 2.7% year-over-year to $2.91 billion.
• Wall Street analysts have varying ratings on Caesars Entertainment, with the average price target set at $42.47, indicating a generally positive outlook despite recent financial setbacks.

Nuveen LLC bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 433,126 shares of the company's stock, valued at approximately $10,828,000. Nuveen LLC owned 0.21% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CZR. DAVENPORT & Co LLC lifted its position in shares of Caesars Entertainment by 1,051.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after acquiring an additional 3,192,224 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Caesars Entertainment during the 4th quarter worth $57,629,000. Jefferies Financial Group Inc. raised its holdings in shares of Caesars Entertainment by 3,673.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock worth $46,389,000 after buying an additional 1,351,286 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Caesars Entertainment by 22.9% during the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock worth $170,582,000 after buying an additional 1,269,911 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Caesars Entertainment during the 1st quarter worth $30,148,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Macquarie lowered their price target on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Truist Financial lowered their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Performance

Shares of CZR stock remained flat at $26.75 on Monday. The stock had a trading volume of 4,694,793 shares, compared to its average volume of 6,976,037. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of -29.08 and a beta of 2.40. The company's fifty day moving average price is $27.85 and its 200-day moving average price is $28.41. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly 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). The company 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%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) EPS. Equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS 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.