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

Power Wealth Management LLC purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,647 shares of the company’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its position 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 valued at $3,988,000 after purchasing an additional 5,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Caesars Entertainment by 24.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,896 shares of the company’s stock valued at $3,054,000 after buying an additional 12,800 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in Caesars Entertainment during the 3rd quarter worth about $373,000. Bank of New York Mellon Corp boosted its holdings in Caesars Entertainment by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,293,853 shares of the company’s stock valued at $59,970,000 after acquiring an additional 40,689 shares during the period. Finally, Mackenzie Financial Corp grew its position in 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 in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Caesars Entertainment Stock Up 0.5 %

CZR stock traded up $0.19 during trading on Friday, hitting $35.33. 3,719,936 shares of the company’s stock were exchanged, compared to its average volume of 4,051,565. The business has a 50-day moving average price of $40.67 and a two-hundred day moving average price 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 stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83. Caesars Entertainment, Inc. has a 52-week low of $35.09 and a 52-week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. 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 prior 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, equities research analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CZR. Susquehanna reduced their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. reduced their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 9th. Barclays lowered their target price on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Wells Fargo & Company reduced 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

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.