ProShare Advisors LLC Increases Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

ProShare Advisors LLC grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,875 shares of the company’s stock after buying an additional 3,577 shares during the quarter. ProShare Advisors LLC’s holdings in Caesars Entertainment were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FIL Ltd purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $28,000. Bogart Wealth LLC raised its position in shares of Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 800 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $44,000. Canada Pension Plan Investment Board raised its position in shares of 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 buying an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $71,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CZR. Truist Financial decreased their target price on shares of Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on shares of Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Barclays increased their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Morgan Stanley reduced their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Raymond James reduced their price objective on shares of 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 analysts have rated the stock with 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 a consensus target price of $43.77.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $27.87 on Friday. The firm has a market cap of $5.80 billion, a PE ratio of -16.69 and a beta of 2.51. The firm’s 50 day simple moving average is $27.02 and its 200-day simple moving average is $32.32. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted ($0.73) earnings per share. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS 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.