Contrarius Group Holdings Ltd Purchases New Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Contrarius Group Holdings Ltd purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 969,543 shares of the company’s stock, valued at approximately $32,402,000. Caesars Entertainment makes up 2.0% of Contrarius Group Holdings Ltd’s holdings, making the stock its 17th biggest holding. Contrarius Group Holdings Ltd owned 0.46% of Caesars Entertainment as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Caesars Entertainment by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock valued at $1,287,000 after buying an additional 408 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Caesars Entertainment by 0.8% in the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock valued at $2,098,000 after buying an additional 470 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Caesars Entertainment by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 168,516 shares of the company’s stock valued at $7,034,000 after buying an additional 582 shares in the last quarter. Lebenthal Global Advisors LLC boosted its stake in shares of Caesars Entertainment by 5.7% in the fourth quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock valued at $364,000 after buying an additional 587 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Caesars Entertainment by 3.7% during the third quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock worth $836,000 after purchasing an additional 720 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on CZR shares. Jefferies Financial Group decreased their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Raymond James decreased their target price on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. TD Cowen decreased their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.00.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.12 on Thursday. The firm has a market capitalization of $6.17 billion, a P/E ratio of -17.44 and a beta of 2.97. The stock has a fifty day moving average price of $33.55 and a 200 day moving average price of $37.06. Caesars Entertainment, Inc. has a 52 week low of $26.42 and a 52 week high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

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