Wells Fargo & Company MN Reduces Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Wells Fargo & Company MN trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 28.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,620 shares of the company’s stock after selling 77,013 shares during the period. Wells Fargo & Company MN’s holdings in Caesars Entertainment were worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Caesars Entertainment during the 4th quarter worth approximately $75,058,000. Assenagon Asset Management S.A. boosted its holdings in shares of Caesars Entertainment by 383.1% in the fourth 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 purchased a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $35,797,000. Contrarius Group Holdings Ltd acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $32,402,000. Finally, Wolverine Asset Management LLC raised its position in Caesars Entertainment by 660.8% in the 4th quarter. Wolverine Asset Management LLC now owns 346,692 shares of the company’s stock valued at $11,586,000 after purchasing an additional 301,121 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

Shares of CZR opened at $25.52 on Friday. The company has a market capitalization of $5.41 billion, a PE ratio of -15.28 and a beta of 2.67. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The company has a 50-day simple moving average of $29.30 and a 200-day simple moving average of $34.87. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James dropped 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 research note on Wednesday, March 19th. Susquehanna reduced their price objective on Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Barclays decreased their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Morgan Stanley lowered their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.14.

Caesars Entertainment Profile

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.