Contrarius Group Holdings Ltd Invests $32.40 Million in Caesars Entertainment, Inc. (NASDAQ:CZR)

Contrarius Group Holdings Ltd bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 969,543 shares of the company’s stock, valued at approximately $32,402,000. Caesars Entertainment accounts for 2.0% of Contrarius Group Holdings Ltd’s holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Caesars Entertainment by 18.7% during the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after buying an additional 1,983,151 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Caesars Entertainment by 383.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after buying an additional 1,697,443 shares in the last quarter. Bamco Inc. NY acquired a new stake in Caesars Entertainment during the third quarter valued at approximately $61,890,000. ING Groep NV acquired a new stake in Caesars Entertainment during the fourth quarter valued at approximately $35,797,000. Finally, Progeny 3 Inc. acquired a new stake in Caesars Entertainment during the third quarter valued at approximately $37,649,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CZR shares. Wells Fargo & Company cut their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. TD Cowen dropped their price target 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. Macquarie dropped their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Raymond James dropped their price target on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Finally, Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price target on the stock in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Caesars Entertainment Stock Up 5.7 %

CZR opened at $29.12 on Thursday. Caesars Entertainment, Inc. has a 12 month low of $26.42 and a 12 month high of $45.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market cap of $6.17 billion, a P/E ratio of -17.44 and a beta of 2.97. The stock’s 50 day moving average price is $33.55 and its 200 day moving average price is $37.06.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.20. The business 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%. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.