Kentucky Retirement Systems Reduces Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Kentucky Retirement Systems trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,071 shares of the company’s stock after selling 1,237 shares during the quarter. Kentucky Retirement Systems’ holdings in Caesars Entertainment were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after buying an additional 75,898 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Caesars Entertainment by 20.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,261 shares of the company’s stock valued at $11,209,000 after purchasing an additional 44,213 shares during the last quarter. Hsbc Holdings PLC grew its stake in Caesars Entertainment by 42.7% during the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after purchasing an additional 145,201 shares during the last quarter. Comerica Bank grew its stake in Caesars Entertainment by 345.0% during the 1st quarter. Comerica Bank now owns 107,355 shares of the company’s stock valued at $4,696,000 after purchasing an additional 83,231 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in Caesars Entertainment by 28.0% during the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock valued at $5,719,000 after purchasing an additional 31,500 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on CZR shares. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Barclays decreased their price objective on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group decreased their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One 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 given a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Stock Up 2.3 %

Caesars Entertainment stock opened at $37.38 on Wednesday. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $50.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market cap of $7.94 billion, a PE ratio of -22.38 and a beta of 2.96. The stock’s fifty day moving average is $41.60 and its two-hundred day moving average is $38.32.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

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.