Caesars Entertainment (NASDAQ:CZR) Shares Gap Up – Should You Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $35.60, but opened at $37.31. Caesars Entertainment shares last traded at $38.13, with a volume of 1,240,824 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. TD Cowen decreased their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $51.21.

Caesars Entertainment Price Performance

The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The business has a 50 day moving average price of $34.56 and a 200-day moving average price of $37.76. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of -22.55 and a beta of 2.90.

Institutional Trading of Caesars Entertainment

Several hedge funds have recently modified their holdings of CZR. FIL Ltd acquired a new position in shares of Caesars Entertainment during the fourth quarter valued at about $28,000. Bogart Wealth LLC boosted its holdings in Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares in the last quarter. Huntington National Bank grew its stake in Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after acquiring an additional 833 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $44,000. Finally, Quarry LP acquired a new position in shares of Caesars Entertainment during the third quarter worth approximately $68,000. Institutional investors own 91.79% of the company’s stock.

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.