Wealthfront Advisers LLC Invests $214,000 in Caesars Entertainment, Inc. (NASDAQ:CZR)

Wealthfront Advisers LLC purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,392 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds also recently modified their holdings of the stock. Avantax Planning Partners Inc. increased its position in shares of Caesars Entertainment by 40.1% in the fourth quarter. Avantax Planning Partners Inc. now owns 22,741 shares of the company’s stock worth $760,000 after purchasing an additional 6,506 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Caesars Entertainment by 14.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,411 shares of the company’s stock worth $381,000 after purchasing an additional 1,433 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Caesars Entertainment by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after purchasing an additional 408 shares during the period. AlphaQuest LLC increased its position in shares of Caesars Entertainment by 52.3% in the fourth quarter. AlphaQuest LLC now owns 8,043 shares of the company’s stock worth $269,000 after purchasing an additional 2,762 shares during the period. Finally, Amundi grew its position in Caesars Entertainment by 55.4% in the fourth quarter. Amundi now owns 684,638 shares of the company’s stock valued at $21,895,000 after acquiring an additional 244,130 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $28.08 on Tuesday. The stock’s 50-day moving average is $33.71 and its 200-day moving average is $37.18. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a market cap of $5.95 billion, a P/E ratio of -16.81 and a beta of 2.97. Caesars Entertainment, Inc. has a 1-year low of $26.42 and a 1-year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

CZR has been the topic of a number of recent analyst reports. TD Cowen decreased their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Stifel Nicolaus decreased their target price on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. JMP Securities decreased their target price on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Barclays decreased their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $50.43.

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.