Caesars Entertainment (NASDAQ:CZR) Shares Gap Up to $48.57

Shares of Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $48.57, but opened at $49.98. Caesars Entertainment shares last traded at $48.30, with a volume of 9,073 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial cut their target price on Caesars Entertainment from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Wells Fargo & Company boosted their target price on Caesars Entertainment from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, November 2nd. Barclays boosted their target price on Caesars Entertainment from $56.00 to $65.00 in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft cut their target price on Caesars Entertainment from $90.00 to $64.00 in a research report on Wednesday, August 3rd. Finally, Susquehanna Bancshares cut their target price on Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating on the stock in a research report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

Caesars Entertainment Trading Down 0.1 %

The company’s 50 day simple moving average is $41.74 and its 200 day simple moving average is $44.12. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of -8.87 and a beta of 2.83. The company has a debt-to-equity ratio of 6.53, a current ratio of 0.80 and a quick ratio of 0.78.

Insider Buying and Selling

In other news, Director Michael E. Pegram bought 25,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average price of $44.74 per share, for a total transaction of $1,118,500.00. Following the completion of the purchase, the director now owns 96,697 shares in the company, valued at approximately $4,326,223.78. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Toroso Investments LLC grew its stake in shares of Caesars Entertainment by 10.5% during the third quarter. Toroso Investments LLC now owns 9,455 shares of the company’s stock worth $305,000 after purchasing an additional 898 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Caesars Entertainment in the third quarter valued at $650,000. Power Corp of Canada acquired a new position in Caesars Entertainment in the third quarter valued at $117,000. Future Fund LLC boosted its stake in Caesars Entertainment by 6.5% in the third quarter. Future Fund LLC now owns 6,514 shares of the company’s stock valued at $210,000 after acquiring an additional 397 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Caesars Entertainment by 18.4% in the third quarter. M&T Bank Corp now owns 9,618 shares of the company’s stock valued at $310,000 after acquiring an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

Further Reading

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