HighTower Advisors LLC Increases Stock Position in Caesars Entertainment, Inc. $CZR

HighTower Advisors LLC grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,733 shares of the company’s stock after acquiring an additional 17,289 shares during the quarter. HighTower Advisors LLC’s holdings in Caesars Entertainment were worth $1,514,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Capital World Investors raised its stake in shares of Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after acquiring an additional 3,716,148 shares in the last quarter. State Street Corp raised its stake in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after acquiring an additional 61,065 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Caesars Entertainment by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after acquiring an additional 18,414 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Caesars Entertainment by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after acquiring an additional 2,490,924 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Caesars Entertainment by 35,370.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock worth $57,645,000 after acquiring an additional 2,457,570 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 0.2%

Shares of Caesars Entertainment stock opened at $29.22 on Wednesday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $31.58. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -12.33 and a beta of 1.77. The company’s 50 day moving average price is $27.35 and its 200-day moving average price is $24.62.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business posted ($0.54) EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CZR shares. Citizens Jmp lifted their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a research note on Friday, May 29th. Jefferies Financial Group lifted their price target on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, April 6th. Citigroup lifted their price target on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.80.

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.