Wellington Management Group LLP Purchases 51,946 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Wellington Management Group LLP increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 45.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 165,351 shares of the company’s stock after acquiring an additional 51,946 shares during the period. Wellington Management Group LLP’s holdings in Caesars Entertainment were worth $5,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Caesars Entertainment by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock worth $780,854,000 after acquiring an additional 100,263 shares during the period. Capital Research Global Investors grew its stake in Caesars Entertainment by 14.8% in the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after buying an additional 2,555,876 shares in the last quarter. Cohen & Steers Inc. grew its stake in Caesars Entertainment by 14.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after buying an additional 1,882,728 shares in the last quarter. Invesco Ltd. grew its stake in Caesars Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock worth $185,594,000 after buying an additional 1,213,426 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in Caesars Entertainment by 41.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company’s stock worth $122,274,000 after buying an additional 1,065,506 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $26.47 on Wednesday. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of -15.85 and a beta of 2.51. The company has a fifty day moving average of $26.92 and a 200-day moving average of $31.58. 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 posted its quarterly 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). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the company earned ($0.73) earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CZR. Susquehanna boosted their price target on shares of Caesars Entertainment from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Raymond James cut their price target on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 19th. Macquarie cut their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Capital One Financial raised shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $43.77.

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.