Wellington Management Group LLP Buys 51,946 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Wellington Management Group LLP raised its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 45.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,351 shares of the company's stock after acquiring an additional 51,946 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of Caesars Entertainment worth $5,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FIL Ltd bought a new stake in Caesars Entertainment during the fourth quarter worth about $28,000. Bogart Wealth LLC raised its stake in shares of 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. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $44,000. Canada Pension Plan Investment Board boosted its holdings in shares of Caesars Entertainment by 100.0% in the 4th 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 last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Caesars Entertainment in the fourth quarter valued at $71,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

CZR traded up $0.17 during trading on Friday, hitting $25.80. The stock had a trading volume of 1,594,397 shares, compared to its average volume of 4,833,849. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a 50 day moving average price of $26.94 and a 200-day moving average price of $31.47. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of -15.43 and a beta of 2.31.

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 analysts' consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. 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 previous year, the firm posted ($0.73) EPS. The company's revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CZR. JMP Securities reaffirmed a "market outperform" rating and set a $45.00 price target on shares of Caesars Entertainment in a research report on Wednesday, April 30th. Stifel Nicolaus dropped 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. Raymond James reduced their price target 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. Truist Financial lowered their price target on Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Susquehanna raised their price objective on Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Three investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.77.

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.