BI Asset Management Fondsmaeglerselskab A S Sells 53,410 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 87.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,640 shares of the company’s stock after selling 53,410 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Caesars Entertainment were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CZR. Teacher Retirement System of Texas lifted its position in shares of Caesars Entertainment by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,673 shares of the company’s stock worth $773,000 after buying an additional 404 shares during the last quarter. M&T Bank Corp lifted its position in shares of Caesars Entertainment by 5.1% during the 3rd quarter. M&T Bank Corp now owns 10,649 shares of the company’s stock worth $494,000 after buying an additional 519 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Caesars Entertainment by 24.7% during the 3rd quarter. California Public Employees Retirement System now owns 373,236 shares of the company’s stock worth $17,299,000 after buying an additional 74,036 shares during the last quarter. Signaturefd LLC increased its holdings in Caesars Entertainment by 33.3% in the 3rd quarter. Signaturefd LLC now owns 2,603 shares of the company’s stock worth $121,000 after purchasing an additional 650 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Caesars Entertainment in the 3rd quarter worth about $384,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Stock Up 3.4 %

Shares of NASDAQ:CZR opened at $33.63 on Friday. The business’s 50 day simple moving average is $38.87 and its two-hundred day simple moving average is $42.50. The firm has a market cap of $7.28 billion, a P/E ratio of 9.53 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. Caesars Entertainment, Inc. has a 52-week low of $32.51 and a 52-week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. As a group, research analysts forecast that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

CZR has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. JMP Securities lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Raymond James initiated coverage on Caesars Entertainment in a report on Tuesday. They issued a “strong-buy” rating and a $55.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and an average target price of $55.07.

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.