Assenagon Asset Management S.A. Buys 290,700 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Assenagon Asset Management S.A. raised its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 190.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 443,074 shares of the company’s stock after acquiring an additional 290,700 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Caesars Entertainment worth $18,494,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Caesars Entertainment by 0.3% during the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after buying an additional 75,898 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock worth $1,239,000 after purchasing an additional 20,692 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Caesars Entertainment by 201.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock valued at $2,650,000 after purchasing an additional 40,517 shares during the period. Russell Investments Group Ltd. grew its position in shares of Caesars Entertainment by 249.0% during the 1st quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock worth $8,131,000 after purchasing an additional 132,720 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Caesars Entertainment by 263.2% during the first quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock worth $15,111,000 after purchasing an additional 250,354 shares during the period. 91.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CZR shares. Stifel Nicolaus boosted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays raised their price target on Caesars Entertainment from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.54.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $44.18 on Friday. The company’s 50 day moving average price is $40.54 and its two-hundred day moving average price is $38.11. The firm has a market capitalization of $9.56 billion, a P/E ratio of -34.25 and a beta of 2.97. Caesars Entertainment, Inc. has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts forecast that Caesars Entertainment, Inc. will post -0.18 earnings per share for the current fiscal 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.