American Assets Capital Advisers LLC Takes Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

American Assets Capital Advisers LLC purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the 4th quarter, HoldingsChannel reports. The firm purchased 245,905 shares of the company’s stock, valued at approximately $8,218,000. Caesars Entertainment accounts for about 2.7% of American Assets Capital Advisers LLC’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Intact Investment Management Inc. boosted its stake in Caesars Entertainment by 43.7% during the 4th quarter. Intact Investment Management Inc. now owns 19,400 shares of the company’s stock valued at $648,000 after purchasing an additional 5,900 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in shares of Caesars Entertainment by 17.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 223,491 shares of the company’s stock valued at $7,469,000 after buying an additional 33,617 shares during the last quarter. Appaloosa LP boosted its position in shares of Caesars Entertainment by 2.3% during the fourth quarter. Appaloosa LP now owns 2,200,000 shares of the company’s stock worth $73,524,000 after buying an additional 50,000 shares during the period. Swiss National Bank increased its position in Caesars Entertainment by 0.5% in the 4th quarter. Swiss National Bank now owns 425,500 shares of the company’s stock valued at $14,220,000 after acquiring an additional 2,200 shares during the period. Finally, Wealthfront Advisers LLC bought a new stake in Caesars Entertainment during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $28.07 on Friday. The stock’s fifty day simple moving average is $33.82 and its 200 day simple moving average is $37.25. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -16.81 and a beta of 2.97. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52-week low of $26.42 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. As a group, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on CZR. JPMorgan Chase & Co. decreased their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Macquarie dropped their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Thursday, March 6th. Finally, TD Cowen dropped their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.43.

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.