Caesars Entertainment (NASDAQ:CZR) Shares Gap Up – Still a Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR) shares gapped up prior to trading on Thursday . The stock had previously closed at $35.60, but opened at $37.31. Caesars Entertainment shares last traded at $38.13, with a volume of 1,240,824 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CZR shares. Macquarie reiterated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Truist Financial reduced their price objective on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays reduced their price objective on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average price target of $51.21.

Caesars Entertainment Stock Up 2.3 %

The firm’s fifty day simple moving average is $34.63 and its 200 day simple moving average is $37.79. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Capital Research Global Investors lifted its position in shares of Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after purchasing an additional 2,555,876 shares in the last quarter. Norges Bank purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth approximately $75,058,000. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after purchasing an additional 1,882,728 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position 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 worth $71,536,000 after purchasing an additional 1,697,443 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Company 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.