Readystate Asset Management LP Buys 251,466 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Readystate Asset Management LP boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 384.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,917 shares of the company's stock after purchasing an additional 251,466 shares during the quarter. Readystate Asset Management LP owned about 0.15% of Caesars Entertainment worth $7,923,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Caesars Entertainment by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock valued at $780,854,000 after purchasing an additional 100,263 shares in the last quarter. Capital Research Global Investors raised its stake in Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after acquiring an additional 2,555,876 shares in the last quarter. Cohen & Steers Inc. raised its stake in Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock worth $487,265,000 after acquiring an additional 1,882,728 shares in the last quarter. Invesco Ltd. raised its stake in Caesars Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock worth $185,594,000 after acquiring an additional 1,213,426 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Caesars Entertainment by 41.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company's stock valued at $122,274,000 after buying an additional 1,065,506 shares in the last quarter. Institutional investors own 91.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CZR shares. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a report on Monday, July 7th. They set a "buy" rating and a $36.00 target price on the stock. Morgan Stanley lifted their price objective on Caesars Entertainment from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Susquehanna boosted their target price on Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Truist Financial lowered their price target on Caesars Entertainment from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $43.13.

Caesars Entertainment Trading Down 2.1%

NASDAQ CZR traded down $0.63 during trading hours on Tuesday, hitting $29.18. 2,477,925 shares of the company's stock were exchanged, compared to its average volume of 4,959,568. The stock has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $29.81. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -26.75 and a beta of 2.29. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 2.08% and a negative return on equity of 2.60%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the business posted ($0.73) EPS. The company's revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast 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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