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

Caesars Entertainment, Inc. (NASDAQ:CZR) shares gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CZR shares. TD Cowen cut their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $51.21.

Caesars Entertainment Stock Performance

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

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC grew its holdings in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the last quarter. FIL Ltd bought a new stake in shares of Caesars Entertainment in the 4th quarter worth about $28,000. Huntington National Bank grew its holdings in shares of Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment in the 4th quarter worth about $44,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.