Rhumbline Advisers Has $10.61 Million Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Rhumbline Advisers lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 38.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 424,448 shares of the company's stock after purchasing an additional 118,581 shares during the period. Rhumbline Advisers owned approximately 0.20% of Caesars Entertainment worth $10,611,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bogart Wealth LLC grew its position in Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company's stock worth $28,000 after purchasing an additional 800 shares in the last quarter. FIL Ltd acquired a new stake in shares of Caesars Entertainment in the fourth quarter worth $28,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Caesars Entertainment during the fourth quarter valued at $44,000. Canada Pension Plan Investment Board raised its position in Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after buying an additional 800 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Caesars Entertainment during the fourth quarter valued at $71,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CZR. Raymond James dropped their price objective on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 19th. Barclays increased their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $45.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, April 30th. Morgan Stanley decreased their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial cut their target price on Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Three equities research 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. According to data from MarketBeat, Caesars Entertainment has an average rating of "Moderate Buy" and an average target price of $43.77.

Caesars Entertainment Stock Performance

CZR stock traded down $1.75 during mid-day trading on Friday, reaching $25.56. 6,900,444 shares of the stock traded hands, compared to its average volume of 4,879,437. The firm has a market capitalization of $5.32 billion, a PE ratio of -15.31 and a beta of 2.31. The business has a 50-day moving average of $27.26 and a two-hundred day moving average of $31.01. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) 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 business 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 firm earned ($0.73) earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

About Caesars Entertainment

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.