Sona Asset Management US LLC Buys 60,000 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Sona Asset Management US LLC grew its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 31.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company’s stock after purchasing an additional 60,000 shares during the period. Sona Asset Management US LLC owned approximately 0.12% of Caesars Entertainment worth $8,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 800 shares in the last quarter. FIL Ltd purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $28,000. Resona Asset Management Co. Ltd. bought a new position in Caesars Entertainment in the fourth quarter worth approximately $44,000. Canada Pension Plan Investment Board increased its holdings in Caesars Entertainment by 100.0% during 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 period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Caesars Entertainment during the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 1.2%

Shares of Caesars Entertainment stock opened at $30.31 on Friday. The stock has a market cap of $6.30 billion, a PE ratio of -18.15 and a beta of 2.51. The firm has a fifty day moving average price of $26.87 and a 200 day moving average price of $32.73. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year 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.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.73) EPS. Equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CZR. Stifel Nicolaus cut their price target on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. TD Cowen lowered their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley cut their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Macquarie reduced their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their price objective on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.77.

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.