CenterBook Partners LP Takes Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

CenterBook Partners LP acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 129,333 shares of the company’s stock, valued at approximately $4,322,000. CenterBook Partners LP owned about 0.06% of Caesars Entertainment at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CZR. Norges Bank purchased a new position in shares of Caesars Entertainment during the 4th quarter worth $75,058,000. Assenagon Asset Management S.A. boosted its stake in Caesars Entertainment by 383.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after buying an additional 1,697,443 shares during the period. Invesco Ltd. increased its position in shares of Caesars Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the last quarter. ING Groep NV purchased a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $35,797,000. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $32,402,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CZR shares. Stifel Nicolaus dropped their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Barclays cut their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Capital One Financial upgraded Caesars Entertainment from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. Macquarie cut their price target 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Three equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $27.57 on Thursday. The stock’s 50-day simple moving average is $30.78 and its 200-day simple moving average is $35.60. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a market capitalization of $5.85 billion, a PE ratio of -16.51 and a beta of 2.67. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. As a group, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.