Power Wealth Management LLC Acquires Shares of 6,647 Caesars Entertainment, Inc. (NASDAQ:CZR)

Power Wealth Management LLC bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,647 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors have also modified their holdings of the stock. Asset Management One Co. Ltd. grew its stake in Caesars Entertainment by 7.2% in the third quarter. Asset Management One Co. Ltd. now owns 86,041 shares of the company’s stock worth $3,988,000 after purchasing an additional 5,750 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Caesars Entertainment by 24.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,896 shares of the company’s stock worth $3,054,000 after buying an additional 12,800 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $373,000. Bank of New York Mellon Corp grew its position in shares of Caesars Entertainment by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,293,853 shares of the company’s stock worth $59,970,000 after acquiring an additional 40,689 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Caesars Entertainment by 10.8% in the 3rd quarter. Mackenzie Financial Corp now owns 7,855 shares of the company’s stock valued at $354,000 after acquiring an additional 763 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CZR. Morgan Stanley raised their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Truist Financial reduced their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Finally, Wells Fargo & Company dropped their price target on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

Caesars Entertainment Stock Performance

CZR traded up $0.19 during trading hours on Friday, hitting $35.33. The company’s stock had a trading volume of 3,719,936 shares, compared to its average volume of 4,051,565. The company has a 50-day simple moving average of $40.67 and a 200 day simple moving average of $43.08. The company has a current ratio of 0.69, a quick ratio of 0.74 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $7.65 billion, a PE ratio of 10.01 and a beta of 2.83. Caesars Entertainment, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

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.