NBC Securities Inc. Increases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

NBC Securities Inc. lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 57.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,018 shares of the company’s stock after buying an additional 2,207 shares during the quarter. NBC Securities Inc.’s holdings in Caesars Entertainment were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. increased its position in shares of Caesars Entertainment by 26.4% during the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after buying an additional 9,270 shares during the period. Choreo LLC grew its holdings in Caesars Entertainment by 39.1% in the fourth quarter. Choreo LLC now owns 17,678 shares of the company’s stock worth $829,000 after purchasing an additional 4,970 shares during the period. GSA Capital Partners LLP purchased a new stake in Caesars Entertainment in the third quarter worth about $2,259,000. Strs Ohio grew its holdings in Caesars Entertainment by 33.2% in the fourth quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after purchasing an additional 168,738 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in Caesars Entertainment by 881.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,506 shares of the company’s stock worth $1,196,000 after purchasing an additional 22,906 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CZR. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Morgan Stanley upped their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays cut their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. TD Cowen cut their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Truist Financial cut their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average price target of $55.07.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $39.16 on Friday. The company’s 50-day moving average price is $36.40 and its 200-day moving average price is $41.22. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $60.27. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The company has a market cap of $8.48 billion, a PE ratio of 11.09 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.52). The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. On average, equities research analysts forecast that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity at Caesars Entertainment

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

Caesars Entertainment Company 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.