Sona Asset Management US LLC Grows Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Sona Asset Management US LLC grew its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 31.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company's stock after purchasing an additional 60,000 shares during the period. Sona Asset Management US LLC owned about 0.12% of Caesars Entertainment worth $8,355,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in shares of Caesars Entertainment by 13.1% in the 4th quarter. ProShare Advisors LLC now owns 30,875 shares of the company's stock worth $1,032,000 after buying an additional 3,577 shares during the last quarter. Progeny 3 Inc. raised its holdings in Caesars Entertainment by 45.3% during the 4th quarter. Progeny 3 Inc. now owns 1,310,300 shares of the company's stock valued at $43,790,000 after acquiring an additional 408,300 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth $105,000. Malaga Cove Capital LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth $365,000. Finally, Occudo Quantitative Strategies LP boosted its holdings in shares of Caesars Entertainment by 19.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 30,166 shares of the company's stock worth $1,008,000 after acquiring an additional 4,829 shares during the period. 91.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CZR shares. Susquehanna increased their price objective on Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. TD Cowen lowered their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Macquarie reduced their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James lowered their price objective on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.77.

Caesars Entertainment Price Performance

NASDAQ:CZR traded down $1.17 during midday trading on Wednesday, hitting $28.24. The company had a trading volume of 1,630,253 shares, compared to its average volume of 4,926,160. The company has a market capitalization of $5.87 billion, a PE ratio of -16.94 and a beta of 2.51. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The stock's fifty day moving average price is $27.02 and its 200-day moving average price is $32.43.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) 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 the consensus estimate 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned ($0.73) EPS. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.