Channing Capital Management LLC Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Channing Capital Management LLC acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 165,866 shares of the company’s stock, valued at approximately $7,776,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its position in Caesars Entertainment by 275.3% in the 4th quarter. National Bank of Canada FI now owns 259,754 shares of the company’s stock worth $12,411,000 after purchasing an additional 190,538 shares during the period. Power Wealth Management LLC bought a new position in shares of Caesars Entertainment during the fourth quarter valued at approximately $312,000. M&T Bank Corp raised its holdings in shares of Caesars Entertainment by 57.8% in the fourth quarter. M&T Bank Corp now owns 16,800 shares of the company’s stock worth $788,000 after buying an additional 6,151 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Caesars Entertainment by 2,096.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,196 shares of the company’s stock worth $103,000 after acquiring an additional 2,096 shares during the last quarter. Finally, JFG Wealth Management LLC purchased a new position in Caesars Entertainment during the 4th quarter valued at $469,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 0.5 %

CZR stock traded up $0.19 during trading on Friday, reaching $35.33. 3,719,936 shares of the stock traded hands, compared to its average volume of 4,051,565. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.74. The firm has a market capitalization of $7.65 billion, a PE ratio of 10.01 and a beta of 2.83. The business’s 50 day moving average price is $40.67 and its 200-day moving average price is $43.08. Caesars Entertainment, Inc. has a 52-week low of $35.09 and a 52-week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS. As a group, sell-side analysts forecast that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, January 9th. Susquehanna dropped their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Barclays reduced their price target on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Truist Financial reduced their price objective on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus cut their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

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.