Caesars Entertainment (NASDAQ:CZR) Hits New 52-Week Low at $37.34

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $37.34 and last traded at $37.92, with a volume of 577096 shares trading hands. The stock had previously closed at $38.48.

Analyst Ratings Changes

A number of brokerages recently issued reports on CZR. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Barclays decreased their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. JMP Securities decreased their target price on shares of Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a research note on Friday, April 19th. Finally, Truist Financial decreased their target price on shares of Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.36.

Caesars Entertainment Trading Down 0.9 %

The company has a market cap of $8.25 billion, a price-to-earnings ratio of 10.35 and a beta of 2.81. The business’s fifty day moving average price is $41.48 and its 200 day moving average price is $43.47. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. Caesars Entertainment’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) EPS. Research analysts anticipate that Caesars Entertainment, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently made changes to their positions in CZR. Norges Bank bought a new stake in shares of Caesars Entertainment during the fourth quarter worth about $102,213,000. AQR Capital Management LLC grew its position in Caesars Entertainment by 938.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after purchasing an additional 942,621 shares in the last quarter. Capital World Investors grew its position in Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Caesars Entertainment by 481.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock worth $42,087,000 after purchasing an additional 751,938 shares in the last quarter. Finally, Blackstone Inc. bought a new stake in Caesars Entertainment in the 3rd quarter worth about $34,762,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.