State of New Jersey Common Pension Fund D Sells 39,867 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

State of New Jersey Common Pension Fund D decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 32.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 83,271 shares of the company’s stock after selling 39,867 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Caesars Entertainment were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Malaga Cove Capital LLC increased its position in Caesars Entertainment by 97.9% during the 2nd quarter. Malaga Cove Capital LLC now owns 10,928 shares of the company’s stock worth $434,000 after buying an additional 5,405 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Caesars Entertainment by 12.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,890 shares of the company’s stock worth $949,000 after purchasing an additional 2,602 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Caesars Entertainment by 1.0% during the 2nd quarter. Royal London Asset Management Ltd. now owns 67,963 shares of the company’s stock worth $2,701,000 after purchasing an additional 699 shares in the last quarter. Choreo LLC grew its holdings in shares of Caesars Entertainment by 82.0% during the 2nd quarter. Choreo LLC now owns 13,958 shares of the company’s stock worth $525,000 after purchasing an additional 6,289 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Caesars Entertainment during the 2nd quarter worth $731,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $40.25 on Wednesday. The business’s 50-day moving average price is $36.78 and its 200-day moving average price is $37.88. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $52.63. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 11.37 and a beta of 2.96. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share (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 company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the business earned $0.82 earnings per share. Caesars Entertainment’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Caesars Entertainment, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on CZR shares. Raymond James started coverage on Caesars Entertainment in a report on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 target price on the stock. Jefferies Financial Group reduced their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley reduced their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Susquehanna reaffirmed a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price objective on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

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.