Northern Trust Corp Purchases 159,173 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Northern Trust Corp grew its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,770,247 shares of the company's stock after buying an additional 159,173 shares during the period. Northern Trust Corp owned approximately 0.83% of Caesars Entertainment worth $59,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. III Capital Management boosted its stake in shares of Caesars Entertainment by 250.2% in the fourth quarter. III Capital Management now owns 139,900 shares of the company's stock valued at $4,675,000 after buying an additional 99,950 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth $1,536,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Caesars Entertainment by 150.2% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 18,615 shares of the company's stock worth $618,000 after purchasing an additional 11,174 shares during the period. Orvieto Partners L.P. acquired a new stake in Caesars Entertainment during the fourth quarter worth about $4,704,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in Caesars Entertainment by 16.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,569,622 shares of the company's stock worth $52,457,000 after buying an additional 223,861 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of CZR opened at $26.85 on Wednesday. The business has a 50-day moving average of $26.98 and a 200-day moving average of $33.37. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -16.08 and a beta of 2.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.73) earnings per share. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial cut their price target on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Capital One Financial upgraded Caesars Entertainment from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. Raymond James decreased their price target on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price objective on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.64.

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.

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