Pilgrim Partners Asia Pte Ltd Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,800 shares of the company’s stock, valued at approximately $94,000.

Several other institutional investors also recently added to or reduced their stakes in CZR. Norges Bank purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth $75,058,000. Assenagon Asset Management S.A. boosted its holdings in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after acquiring an additional 1,697,443 shares during the period. ING Groep NV bought a new stake in Caesars Entertainment during the 4th quarter valued at $35,797,000. Contrarius Group Holdings Ltd purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $32,402,000. Finally, Point72 Asset Management L.P. bought a new position in Caesars Entertainment in the 3rd quarter worth $26,721,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $23.18 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -13.88 and a beta of 2.97. Caesars Entertainment, Inc. has a 12 month low of $21.40 and a 12 month high of $45.93. The business’s 50 day simple moving average is $31.83 and its 200-day simple moving average is $36.15.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during 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%. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James cut their price objective on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 19th. TD Cowen dropped their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Capital One Financial raised shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $51.00 to $47.00 in a research note on Thursday. Finally, Truist Financial lowered their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Three 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. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

About Caesars Entertainment

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.