ExodusPoint Capital Management LP Raises Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

ExodusPoint Capital Management LP raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 153.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 303,402 shares of the company’s stock after purchasing an additional 183,799 shares during the period. ExodusPoint Capital Management LP owned 0.14% of Caesars Entertainment worth $10,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $1,287,000 after purchasing an additional 408 shares in the last quarter. Arizona State Retirement System grew its holdings in Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock valued at $2,098,000 after buying an additional 470 shares in the last quarter. Lebenthal Global Advisors LLC increased its stake in shares of Caesars Entertainment by 5.7% in the 4th quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after acquiring an additional 587 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Caesars Entertainment by 12.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,563 shares of the company’s stock valued at $186,000 after acquiring an additional 601 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Caesars Entertainment by 3.7% in the third quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock valued at $836,000 after purchasing an additional 720 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CZR. Macquarie reduced their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a report on Thursday, March 6th. Truist Financial lowered their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. TD Cowen reduced 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. Finally, JPMorgan Chase & Co. lowered their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $23.18 on Friday. The firm has a 50 day moving average of $31.83 and a two-hundred day moving average of $36.15. The stock has a market capitalization of $4.91 billion, a PE ratio of -13.88 and a beta of 2.97. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. On average, research analysts predict that Caesars Entertainment, Inc. will post -0.77 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.