Sumitomo Mitsui DS Asset Management Company Ltd Acquires 511 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,755 shares of the company’s stock after purchasing an additional 511 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Caesars Entertainment were worth $785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after buying an additional 3,289,748 shares during the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment during the 4th quarter valued at approximately $102,213,000. Nut Tree Capital Management LP increased its stake in shares of Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 shares during the period. Finally, Capital World Investors lifted its stake in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $37.64 on Monday. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.66 and a beta of 2.99. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The stock has a fifty day moving average of $37.00 and a 200 day moving average of $38.26. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $56.29.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Caesars Entertainment, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

CZR has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JMP Securities upped their price target on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. Stifel Nicolaus lifted their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James initiated coverage on Caesars Entertainment in a research report on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 target price on the stock. Finally, Morgan Stanley cut their price target on Caesars Entertainment from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

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.