Acadian Asset Management LLC Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Acadian Asset Management LLC acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,709 shares of the company’s stock, valued at approximately $147,000.

Other large investors have also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in shares of Caesars Entertainment by 12.0% in the fourth quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after buying an additional 538 shares during the period. Principal Securities Inc. bought a new stake in Caesars Entertainment in the 4th quarter worth $46,000. Dimensional Fund Advisors LP increased its position in shares of Caesars Entertainment by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,616,373 shares of the company’s stock valued at $75,789,000 after acquiring an additional 9,213 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Caesars Entertainment by 487.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 39,472 shares of the company’s stock valued at $1,850,000 after acquiring an additional 32,752 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $102,213,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

CZR has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JMP Securities boosted their target price on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. Susquehanna restated a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $41.45 on Friday. The company’s fifty day moving average price is $36.98 and its 200-day moving average price is $37.90. The stock has a market cap of $8.97 billion, a PE ratio of 11.74 and a beta of 2.96. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.68). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. On average, equities analysts expect that Caesars Entertainment, Inc. will post 0.06 EPS 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.