Retirement Systems of Alabama Boosts Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Retirement Systems of Alabama lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 535.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 309,541 shares of the company’s stock after buying an additional 260,861 shares during the quarter. Retirement Systems of Alabama’s holdings in Caesars Entertainment were worth $14,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CZR. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Caesars Entertainment during the third quarter worth about $32,000. GAMMA Investing LLC acquired a new stake in shares of Caesars Entertainment in the fourth quarter worth approximately $99,000. Covestor Ltd boosted its position in shares of Caesars Entertainment by 22.9% in the third quarter. Covestor Ltd now owns 2,575 shares of the company’s stock worth $119,000 after acquiring an additional 480 shares during the last quarter. Signaturefd LLC boosted its position in shares of Caesars Entertainment by 33.3% in the third quarter. Signaturefd LLC now owns 2,603 shares of the company’s stock worth $121,000 after acquiring an additional 650 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Caesars Entertainment by 10.6% in the third quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock worth $126,000 after acquiring an additional 261 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $41.45 per share, with a total value of $621,750.00. Following the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities decreased their target price on shares of Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 9th. Five 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, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Up 1.6 %

Shares of NASDAQ:CZR opened at $36.38 on Thursday. The company’s fifty day moving average is $41.04 and its two-hundred day moving average is $43.25. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76. Caesars Entertainment, Inc. has a 1-year low of $35.12 and a 1-year high of $60.27. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 9.90 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the company earned ($0.11) EPS. Caesars Entertainment’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Caesars Entertainment, Inc. will post 1.02 EPS for the current year.

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.