TheStreet Upgrades Caesars Entertainment (NASDAQ:CZR) to C

Friday, March 19, 2021 | MarketBeat

Caesars Entertainment (NASDAQ:CZR) was upgraded by stock analysts at TheStreet from a "d+" rating to a "c" rating in a report issued on Wednesday, TheStreetRatingsTable reports.

A number of other equities research analysts also recently commented on the stock. Roth Capital increased their price objective on shares of Caesars Entertainment from $95.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, March 4th. Macquarie increased their price objective on shares of Caesars Entertainment from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, February 26th. Zacks Investment Research raised shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 1st. The Goldman Sachs Group increased their target price on shares of Caesars Entertainment from $80.00 to $88.00 and gave the company a "neutral" rating in a research report on Tuesday, January 26th. Finally, Morgan Stanley increased their target price on shares of Caesars Entertainment from $89.00 to $92.00 and gave the company an "equal weight" rating in a research report on Thursday, March 4th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Caesars Entertainment presently has an average rating of "Buy" and a consensus target price of $73.44.

Shares of CZR stock opened at $90.60 on Wednesday. The firm's 50 day moving average price is $85.89 and its 200-day moving average price is $69.11. The company has a debt-to-equity ratio of 8.19, a quick ratio of 2.53 and a current ratio of 2.55. Caesars Entertainment has a one year low of $6.62 and a one year high of $106.20. The firm has a market cap of $18.87 billion, a P/E ratio of -9.28 and a beta of 3.15.

In other Caesars Entertainment news, CEO Thomas Reeg sold 70,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $70.75, for a total transaction of $4,952,500.00. Following the transaction, the chief executive officer now directly owns 271,309 shares of the company's stock, valued at $19,195,111.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Anthony L. Carano sold 25,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the transaction, the chief operating officer now directly owns 93,020 shares in the company, valued at $6,581,165. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,000 shares of company stock valued at $8,346,650. 0.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in CZR. First Trust Advisors LP lifted its position in Caesars Entertainment by 44.7% during the first quarter. First Trust Advisors LP now owns 637,174 shares of the company's stock valued at $5,537,000 after buying an additional 196,890 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Caesars Entertainment during the third quarter valued at approximately $438,000. Sei Investments Co. acquired a new position in Caesars Entertainment during the third quarter valued at approximately $11,701,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Caesars Entertainment during the third quarter worth $474,000. Finally, Victory Capital Management Inc. lifted its position in shares of Caesars Entertainment by 341.6% during the third quarter. Victory Capital Management Inc. now owns 477,424 shares of the company's stock worth $26,764,000 after purchasing an additional 369,316 shares in the last quarter. 90.68% of the stock is currently owned by hedge funds and other institutional investors.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a casino-entertainment company in the United States. The company operates resorts primarily under the Caesars, Harrah's, Horseshoe, and Eldorado brand names. It offers various amenities and one-of-a-kind destinations; and gaming services. The company was founded in 1937 and is based in Reno, Nevada.

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