Nisa Investment Advisors LLC Sells 12,680 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Nisa Investment Advisors LLC lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 50.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,460 shares of the company’s stock after selling 12,680 shares during the period. Nisa Investment Advisors LLC’s holdings in Caesars Entertainment were worth $495,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CZR. American Trust boosted its stake in Caesars Entertainment by 4.5% in the 1st quarter. American Trust now owns 7,346 shares of the company’s stock worth $321,000 after purchasing an additional 313 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Caesars Entertainment by 8.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock worth $234,000 after purchasing an additional 400 shares during the period. Blue Trust Inc. boosted its stake in Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares during the period. Private Advisor Group LLC boosted its stake in Caesars Entertainment by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after purchasing an additional 538 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Caesars Entertainment by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the company’s stock worth $728,000 after purchasing an additional 580 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 4.9 %

Caesars Entertainment stock opened at $38.29 on Friday. Caesars Entertainment, Inc. has a 52 week low of $31.74 and a 52 week high of $56.29. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.67 and a current ratio of 0.70. The stock has a market capitalization of $8.29 billion, a P/E ratio of 10.85 and a beta of 2.99. The stock has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $38.55.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JMP Securities upped their target price on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Thursday. TD Cowen reduced their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley reduced their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Truist Financial reduced their price objective on shares of 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, Jefferies Financial Group reduced their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.21.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $32.52, for a total transaction of $325,200.00. Following the completion of the sale, the director now directly owns 350 shares in the company, valued at $11,382. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.