First Trust Advisors LP Reduces Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

First Trust Advisors LP lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 40.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 244,053 shares of the company's stock after selling 169,019 shares during the quarter. First Trust Advisors LP owned 0.11% of Caesars Entertainment worth $8,156,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FIL Ltd bought a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $28,000. Bogart Wealth LLC boosted 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 valued at $28,000 after acquiring an additional 800 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $44,000. Canada Pension Plan Investment Board raised its position 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 worth $53,000 after acquiring an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at approximately $71,000. Hedge funds and other 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. Wells Fargo & Company decreased their price objective on Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. JMP Securities reissued a "market outperform" rating and set a $45.00 price objective on shares of Caesars Entertainment in a research note on Wednesday. Morgan Stanley cut their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $45.64.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded up $0.60 during mid-day trading on Friday, reaching $27.80. The company's stock had a trading volume of 4,963,429 shares, compared to its average volume of 4,898,898. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a market cap of $5.90 billion, a P/E ratio of -16.65 and a beta of 2.67. The firm's fifty day moving average price is $27.25 and its two-hundred day moving average price is $33.70. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned ($0.73) EPS. The firm's revenue for the quarter 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.

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.