Swiss National Bank Cuts Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Swiss National Bank trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 673,200 shares of the company’s stock after selling 19,000 shares during the quarter. Swiss National Bank owned about 0.31% of Caesars Entertainment worth $31,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CZR. Vanguard Group Inc. increased its holdings in shares of Caesars Entertainment by 0.6% during the third quarter. Vanguard Group Inc. now owns 23,411,856 shares of the company’s stock valued at $1,085,140,000 after acquiring an additional 129,541 shares in the last quarter. Invesco Ltd. boosted its position in Caesars Entertainment by 8.7% in the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after buying an additional 293,078 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caesars Entertainment by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock worth $95,144,000 after acquiring an additional 77,595 shares during the period. Northern Trust Corp raised its stake in shares of Caesars Entertainment by 3.9% during the 3rd quarter. Northern Trust Corp now owns 1,934,704 shares of the company’s stock valued at $89,674,000 after buying an additional 72,008 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Caesars Entertainment by 37.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,433,641 shares of the company’s stock valued at $67,209,000 after acquiring an additional 387,391 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CZR shares. Susquehanna decreased their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. JPMorgan Chase & Co. cut their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Truist Financial reduced their target price on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays dropped their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $53.83.

Caesars Entertainment Stock Up 0.8 %

NASDAQ CZR opened at $36.35 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. Caesars Entertainment, Inc. has a 52 week low of $35.09 and a 52 week high of $60.27. The business’s fifty day simple moving average is $40.46 and its 200-day simple moving average is $43.01. The firm has a market cap of $7.87 billion, a PE ratio of 10.30 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram bought 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael E. Pegram purchased 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the purchase, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Caesars Entertainment 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.