Caesars Entertainment (NASDAQ:CZR) Hits New 12-Month Low – Here’s What Happened

Caesars Entertainment, Inc. (NASDAQ:CZR) shares reached a new 52-week low on Thursday . The stock traded as low as $17.95 and last traded at $18.17, with a volume of 3202128 shares traded. The stock had previously closed at $19.84.

Analyst Ratings Changes

CZR has been the subject of several analyst reports. Susquehanna raised shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $25.00 to $31.00 in a report on Thursday, January 8th. Morgan Stanley dropped their target price on Caesars Entertainment from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, January 16th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Jefferies Financial Group lowered Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $22.00 in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $34.61.

Caesars Entertainment Trading Down 4.5%

The stock has a market cap of $3.70 billion, a PE ratio of -15.77, a PEG ratio of 24.61 and a beta of 2.03. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. The firm has a fifty day simple moving average of $23.02 and a two-hundred day simple moving average of $23.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. State Street Corp raised its holdings in shares of Caesars Entertainment by 0.8% during the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after buying an additional 61,065 shares in the last quarter. Morgan Stanley lifted its position in Caesars Entertainment by 121.0% in the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after buying an additional 3,910,430 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Caesars Entertainment by 0.4% in the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after buying an additional 18,414 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after buying an additional 2,490,924 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.