403,882 Shares in Caesars Entertainment, Inc. (NASDAQ:CZR) Purchased by Cannell Capital LLC

Cannell Capital LLC bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 403,882 shares of the company’s stock, valued at approximately $13,498,000. Caesars Entertainment comprises approximately 2.8% of Cannell Capital LLC’s portfolio, making the stock its 17th biggest holding. Cannell Capital LLC owned about 0.19% of Caesars Entertainment at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CZR. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Caesars Entertainment by 1.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock valued at $1,287,000 after buying an additional 408 shares during the period. Arizona State Retirement System grew its stake in Caesars Entertainment by 0.8% in the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after purchasing an additional 470 shares in the last quarter. Lebenthal Global Advisors LLC grew its stake in Caesars Entertainment by 5.7% in the fourth quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after purchasing an additional 587 shares in the last quarter. Nomura Asset Management Co. Ltd. grew 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 worth $186,000 after buying an additional 601 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Caesars Entertainment by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock valued at $836,000 after purchasing an additional 720 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $23.75 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The company’s 50 day moving average is $31.61 and its 200 day moving average is $35.97. The company has a market cap of $5.04 billion, a PE ratio of -14.22 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last posted 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. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CZR. Stifel Nicolaus reduced their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective 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. Raymond James reduced their target price on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 19th. Jefferies Financial Group lowered their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Caesars Entertainment 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.