Creative Planning Reduces Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Creative Planning lowered its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 86.5% in the third quarter, Holdings Channel.com reports. The fund owned 20,293 shares of the company’s stock after selling 129,898 shares during the quarter. Creative Planning’s holdings in Caesars Entertainment were worth $847,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Capital Research Global Investors increased its position in Caesars Entertainment by 26.9% during the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after buying an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP increased its position in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after buying an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after buying an additional 1,515,763 shares in the last quarter. SG Americas Securities LLC increased its position in Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after buying an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new position in Caesars Entertainment during the 2nd quarter valued at about $37,763,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group dropped their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley boosted their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays lowered their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Susquehanna restated a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Down 2.1 %

Shares of Caesars Entertainment stock opened at $39.22 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 2.84. The company has a fifty day moving average price of $41.09 and a 200 day moving average price of $38.17. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -23.48 and a beta of 2.97. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.35 earnings per share for the current fiscal year.

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.