Caesars Entertainment (NASDAQ:CZR) Shares Down 4%

Caesars Entertainment, Inc. (NASDAQ:CZR) shares dropped 4% during trading on Friday . The company traded as low as $36.43 and last traded at $36.51. Approximately 3,281,597 shares were traded during trading, an increase of 4% from the average daily volume of 3,158,123 shares. The stock had previously closed at $38.04.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Susquehanna decreased their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Barclays cut 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. Finally, Truist Financial decreased their price target on shares of Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.36.

Caesars Entertainment Stock Down 3.8 %

The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $41.37 and its two-hundred day simple moving average is $43.44. The firm has a market cap of $7.92 billion, a P/E ratio of 10.09 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that Caesars Entertainment, Inc. will post 1.02 earnings per share for the current year.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the acquisition, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of Caesars Entertainment by 26.4% in the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock worth $2,057,000 after acquiring an additional 9,270 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Caesars Entertainment by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after buying an additional 77,595 shares during the period. GSA Capital Partners LLP bought a new position in shares of Caesars Entertainment during the 3rd quarter valued at $2,259,000. Strs Ohio boosted its stake in shares of Caesars Entertainment by 33.2% in the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after buying an additional 168,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Caesars Entertainment by 1,029.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock worth $11,998,000 after acquiring an additional 233,271 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.