Channing Capital Management LLC Purchases New Shares in Caesars Entertainment, Inc. (NASDAQ:CZR)

Channing Capital Management LLC acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 165,866 shares of the company's stock, valued at approximately $7,776,000. Channing Capital Management LLC owned about 0.08% of Caesars Entertainment at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Caesars Entertainment during the third quarter worth $32,000. GAMMA Investing LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $99,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Caesars Entertainment by 2,096.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,196 shares of the company's stock worth $103,000 after buying an additional 2,096 shares during the last quarter. Covestor Ltd grew its position in Caesars Entertainment by 22.9% during the third quarter. Covestor Ltd now owns 2,575 shares of the company's stock valued at $119,000 after buying an additional 480 shares during the period. Finally, Signaturefd LLC increased its holdings in Caesars Entertainment by 33.3% during the third quarter. Signaturefd LLC now owns 2,603 shares of the company's stock worth $121,000 after buying an additional 650 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares of the company's stock, valued at $191,167.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by corporate insiders.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded up $0.19 on Friday, reaching $35.33. The stock had a trading volume of 3,719,936 shares, compared to its average volume of 4,051,565. The business's 50 day moving average is $40.67 and its two-hundred day moving average is $43.08. The company has a market cap of $7.65 billion, a P/E ratio of 10.01 and a beta of 2.83. Caesars Entertainment, Inc. has a 1 year low of $35.09 and a 1 year high of $60.27. The company has a current ratio of 0.69, a quick ratio of 0.74 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) earnings per share. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CZR shares. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Caesars Entertainment from $62.00 to $59.00 and set a "buy" rating for the company in a report on Friday, April 12th. Morgan Stanley raised their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. TD Cowen dropped their price target on Caesars Entertainment from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Truist Financial decreased their price objective on Caesars Entertainment from $58.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average price target of $53.83.

Caesars Entertainment Company 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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