Point72 Asset Management L.P. Lowers Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Point72 Asset Management L.P. lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,696 shares of the company's stock after selling 413,485 shares during the quarter. Point72 Asset Management L.P. owned 0.11% of Caesars Entertainment worth $7,576,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CZR. Capital Research Global Investors boosted its stake in shares of Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock valued at $662,088,000 after purchasing an additional 2,555,876 shares during the period. Norges Bank purchased a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $75,058,000. Cohen & Steers Inc. boosted its stake in shares of Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after purchasing an additional 1,882,728 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $57,629,000. Finally, Jefferies Financial Group Inc. boosted its stake in shares of Caesars Entertainment by 3,673.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,388,067 shares of the company's stock valued at $46,389,000 after purchasing an additional 1,351,286 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CZR shares. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. TD Cowen reduced their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Raymond James reduced their target price on shares of Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 19th. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Susquehanna raised their target price on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.77.

Caesars Entertainment Stock Down 3.7%

CZR stock opened at $29.57 on Tuesday. The company's 50 day moving average is $26.97 and its two-hundred day moving average is $32.45. The stock has a market cap of $6.15 billion, a P/E ratio of -17.71 and a beta of 2.51. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month 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.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.73) earnings per share. Research analysts expect 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.

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