UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 27,918 Shares of Caesars Entertainment, Inc. $CZR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,406 shares of the company’s stock after selling 27,918 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Caesars Entertainment worth $11,390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CZR. Allworth Financial LP bought a new stake in shares of Caesars Entertainment during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd increased its stake in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying an additional 918 shares during the period. Sunbelt Securities Inc. increased its position in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the period. Hantz Financial Services Inc. raised its position in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after acquiring an additional 702 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

CZR stock opened at $29.68 on Monday. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. The firm has a market cap of $6.05 billion, a P/E ratio of -13.02 and a beta of 1.75. The company’s 50-day simple moving average is $29.86 and its 200-day simple moving average is $28.10.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) EPS. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

CZR has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Wells Fargo & Company raised their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, June 15th. Finally, Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.71.

Insiders Place Their Bets

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 510,830 shares of company stock valued at $15,086,960. 1.18% of the stock is owned by insiders.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.