Point72 Asia Singapore Pte. Ltd. Cuts Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Point72 Asia Singapore Pte. Ltd. reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 98.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780 shares of the company's stock after selling 40,362 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Caesars Entertainment were worth $26,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in Caesars Entertainment by 13.1% during the 4th quarter. ProShare Advisors LLC now owns 30,875 shares of the company's stock valued at $1,032,000 after acquiring an additional 3,577 shares during the period. Progeny 3 Inc. boosted its holdings in Caesars Entertainment by 45.3% during the 4th quarter. Progeny 3 Inc. now owns 1,310,300 shares of the company's stock valued at $43,790,000 after acquiring an additional 408,300 shares during the period. Mufg Securities Americas Inc. purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $105,000. Malaga Cove Capital LLC purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $365,000. Finally, Occudo Quantitative Strategies LP boosted its holdings in Caesars Entertainment by 19.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 30,166 shares of the company's stock valued at $1,008,000 after acquiring an additional 4,829 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the subject of several analyst reports. TD Cowen dropped their target price on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Truist Financial dropped their target price on Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Barclays increased their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Raymond James dropped their price objective on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 19th. Finally, Stifel Nicolaus dropped their price objective on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment has an average rating of "Moderate Buy" and a consensus target price of $43.77.

Caesars Entertainment Stock Down 3.7%

Shares of NASDAQ:CZR opened at $29.57 on Tuesday. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The firm has a market capitalization of $6.15 billion, a P/E ratio of -17.71 and a beta of 2.51. The stock has a 50 day moving average price of $26.97 and a 200-day moving average price of $32.45. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the company posted ($0.73) EPS. The firm's revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS 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.

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