Caesars Entertainment (NASDAQ:CZR) Trading 8.7% Higher – Here’s What Happened

Caesars Entertainment, Inc. (NASDAQ:CZR) shares traded up 8.7% during trading on Wednesday . The stock traded as high as $22.35 and last traded at $22.35. 2,561,813 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,928,144 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Monday, December 15th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. TD Cowen reissued a “buy” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.61.

Caesars Entertainment Stock Up 6.4%

The firm’s fifty day moving average price is $23.50 and its 200-day moving average price is $24.03. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -19.03, a price-to-earnings-growth ratio of 5.59 and a beta of 2.03. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in shares of Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after purchasing an additional 12,698 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Caesars Entertainment by 8.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after purchasing an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Caesars Entertainment by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after acquiring an additional 826,356 shares during the last quarter. Woodline Partners LP lifted its stake in Caesars Entertainment by 40.7% in the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after purchasing an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Caesars Entertainment by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after buying an additional 3,198 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.