Caesars Entertainment (NASDAQ:CZR) Sets New 12-Month Low – Here’s What Happened

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price reached a new 52-week low on Thursday . The company traded as low as $17.95 and last traded at $18.17, with a volume of 3202128 shares traded. The stock had previously closed at $19.84.

Wall Street Analysts Forecast Growth

CZR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Susquehanna upgraded shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and lifted their target price for the company from $25.00 to $31.00 in a report on Thursday, January 8th. Wells Fargo & Company began coverage on Caesars Entertainment in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price target on the stock. Jefferies Financial Group lowered Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $22.00 in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.61.

Caesars Entertainment Price Performance

The firm has a 50-day moving average of $23.20 and a 200-day moving average of $23.70. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. The firm has a market capitalization of $3.88 billion, a P/E ratio of -16.52, a PEG ratio of 5.63 and a beta of 2.03.

Institutional Investors Weigh In On Caesars Entertainment

Several large investors have recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the last quarter. State Street Corp grew its position in Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the period. DAVENPORT & Co LLC raised its stake in Caesars Entertainment by 0.4% during the 4th quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock valued at $101,797,000 after buying an additional 18,414 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Caesars Entertainment by 317.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after buying an additional 2,490,924 shares during the period. Finally, Norges Bank purchased a new position in shares of Caesars Entertainment in the 4th quarter worth $76,050,000. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

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.