Capital Research Global Investors Has $662.09 Million Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Capital Research Global Investors increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 14.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,811,919 shares of the company’s stock after buying an additional 2,555,876 shares during the quarter. Capital Research Global Investors owned approximately 0.09% of Caesars Entertainment worth $662,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC increased its stake in shares of Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the period. FIL Ltd bought a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $28,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Caesars Entertainment in the fourth quarter worth $44,000. Canada Pension Plan Investment Board raised its stake in Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Caesars Entertainment in the 4th quarter worth $71,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CZR. JPMorgan Chase & Co. lowered their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. TD Cowen reduced their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus dropped their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Capital One Financial raised 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 research note on Thursday, April 3rd. Finally, Susquehanna decreased their price objective on Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.14.

Caesars Entertainment Price Performance

CZR opened at $25.52 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company’s 50 day simple moving average is $29.30 and its 200-day simple moving average is $34.82. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The stock has a market capitalization of $5.41 billion, a P/E ratio of -15.28 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share 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.