Caesars Entertainment, Inc. (NASDAQ:CZR) Holdings Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) by 79.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,558 shares of the company’s stock after selling 987,406 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Caesars Entertainment worth $19,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Caesars Entertainment in the fourth quarter valued at about $178,319,000. Capital Research Global Investors grew its stake in Caesars Entertainment by 9.0% in the fourth quarter. Capital Research Global Investors now owns 17,328,116 shares of the company’s stock valued at $1,620,688,000 after purchasing an additional 1,423,925 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Caesars Entertainment in the first quarter valued at about $77,785,000. HG Vora Capital Management LLC purchased a new position in Caesars Entertainment in the fourth quarter valued at about $93,530,000. Finally, Capital International Investors grew its stake in Caesars Entertainment by 9.0% in the fourth quarter. Capital International Investors now owns 4,824,281 shares of the company’s stock valued at $451,215,000 after purchasing an additional 398,455 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Don R. Kornstein purchased 2,500 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average price of $38.10 per share, with a total value of $95,250.00. Following the acquisition, the director now directly owns 34,353 shares in the company, valued at approximately $1,308,849.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Don R. Kornstein acquired 2,500 shares of the stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of $38.10 per share, for a total transaction of $95,250.00. Following the purchase, the director now owns 34,353 shares in the company, valued at approximately $1,308,849.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Don R. Kornstein acquired 4,000 shares of the stock in a transaction dated Monday, June 13th. The stock was bought at an average price of $39.60 per share, for a total transaction of $158,400.00. Following the completion of the purchase, the director now owns 30,853 shares in the company, valued at approximately $1,221,778.80. The disclosure for this purchase can be found here. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CZR shares. Morgan Stanley lowered their target price on Caesars Entertainment from $122.00 to $99.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. KeyCorp cut Caesars Entertainment to a “sector weight” rating in a research report on Tuesday, July 19th. Truist Financial reduced their price target on Caesars Entertainment from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Bank of America reduced their price target on Caesars Entertainment from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, April 18th. Finally, Susquehanna started coverage on Caesars Entertainment in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $32.00 price target for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Caesars Entertainment Trading Down 2.2 %

Caesars Entertainment stock opened at $48.18 on Friday. The business has a 50 day moving average price of $43.50 and a two-hundred day moving average price of $61.97. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 6.82. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of -7.00 and a beta of 2.79. Caesars Entertainment, Inc. has a 12 month low of $35.10 and a 12 month high of $119.81.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($2.11) EPS for the quarter, beating the consensus estimate of ($2.15) by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Caesars Entertainment had a negative return on equity of 19.99% and a negative net margin of 14.14%. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.06) EPS. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -1.5 EPS for the current year.

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.