Kentucky Retirement Systems Decreases Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Kentucky Retirement Systems lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,382 shares of the company’s stock after selling 877 shares during the quarter. Kentucky Retirement Systems’ holdings in Caesars Entertainment were worth $717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GABELLI & Co INVESTMENT ADVISERS INC. grew its position 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 valued at $234,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System grew its position in Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 59,170 shares of the company’s stock valued at $2,774,000 after acquiring an additional 457 shares during the last quarter. Private Advisor Group LLC grew its position in Caesars Entertainment by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock valued at $236,000 after acquiring an additional 538 shares during the last quarter. PNC Financial Services Group Inc. grew its position 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 valued at $728,000 after acquiring an additional 580 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Caesars Entertainment by 7.0% in the 4th quarter. Cerity Partners LLC now owns 9,174 shares of the company’s stock valued at $430,000 after acquiring an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the completion of the purchase, the director now owns 191,697 shares in the company, valued at approximately $6,126,636.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael E. Pegram acquired 10,000 shares of Caesars Entertainment stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the completion of the purchase, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Pegram acquired 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the purchase, the director now owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CZR has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Caesars Entertainment from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. TD Cowen dropped their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Stifel Nicolaus dropped their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Raymond James began coverage on Caesars Entertainment in a research report on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Caesars Entertainment Stock Up 2.8 %

CZR stock traded up $0.97 during trading on Monday, reaching $36.03. 2,490,025 shares of the company traded hands, compared to its average volume of 3,879,724. The business has a 50 day simple moving average of $36.61 and a 200 day simple moving average of $39.66. 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 12 month low of $31.74 and a 12 month high of $59.50. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 10.18 and a beta of 2.99.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. On average, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.13 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.