Pictet Asset Management Holding SA Boosts Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Pictet Asset Management Holding SA boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,084 shares of the company’s stock after acquiring an additional 3,372 shares during the period. Pictet Asset Management Holding SA’s holdings in Caesars Entertainment were worth $1,440,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Caesars Entertainment by 1.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after acquiring an additional 408 shares during the period. Arizona State Retirement System grew its position in Caesars Entertainment by 0.8% in the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after acquiring an additional 470 shares during the period. Lebenthal Global Advisors LLC increased its stake in Caesars Entertainment by 5.7% during the fourth quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after acquiring an additional 587 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Caesars Entertainment by 12.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,563 shares of the company’s stock valued at $186,000 after purchasing an additional 601 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of Caesars Entertainment by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock valued at $836,000 after purchasing an additional 720 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $23.18 on Friday. The stock has a market cap of $4.91 billion, a P/E ratio of -13.88 and a beta of 2.97. The company has a fifty day simple moving average of $31.83 and a 200-day simple moving average of $36.12. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Equities analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CZR. Susquehanna raised shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price on the stock in a research report on Thursday, March 6th. Barclays dropped their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JMP Securities dropped their price objective on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $51.00 to $47.00 in a research report on Thursday. Finally, Raymond James reduced their price target on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.