Alliancebernstein L.P. Has $8.15 Million Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Alliancebernstein L.P. lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,707 shares of the company’s stock after selling 23,886 shares during the period. Alliancebernstein L.P. owned about 0.11% of Caesars Entertainment worth $8,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Villere ST Denis J & Co. LLC raised its position in Caesars Entertainment by 6.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock worth $26,877,000 after acquiring an additional 47,294 shares in the last quarter. Guyasuta Investment Advisors Inc. acquired a new stake in Caesars Entertainment in the 4th quarter valued at about $385,000. Charles Schwab Investment Management Inc. grew its holdings in Caesars Entertainment by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock worth $62,728,000 after purchasing an additional 11,671 shares during the period. Wellington Management Group LLP increased its position in Caesars Entertainment by 4.5% during the third quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock worth $4,734,000 after buying an additional 4,840 shares during the last quarter. Finally, Key Colony Management LLC bought a new stake in Caesars Entertainment in the fourth quarter valued at approximately $6,350,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CZR. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price on the stock in a report on Thursday, March 6th. JMP Securities decreased their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Truist Financial cut their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Capital One Financial upgraded shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. cut 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 report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Caesars Entertainment Stock Performance

CZR opened at $25.33 on Friday. The firm has a market cap of $5.37 billion, a P/E ratio of -15.17 and a beta of 2.67. The business’s fifty day moving average is $30.36 and its 200-day moving average is $35.39. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week 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 released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal 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.