GAMMA Investing LLC Has $43,000 Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

GAMMA Investing LLC cut its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 56.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 985 shares of the company’s stock after selling 1,262 shares during the period. GAMMA Investing LLC’s holdings in Caesars Entertainment were worth $43,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Caesars Entertainment during the 4th quarter worth about $102,213,000. AQR Capital Management LLC grew its stake in Caesars Entertainment by 938.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after buying an additional 942,621 shares in the last quarter. Capital World Investors boosted its holdings in Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Caesars Entertainment by 481.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after purchasing an additional 751,938 shares during the period. Finally, Blackstone Inc. bought a new stake in shares of Caesars Entertainment during the 3rd quarter worth $34,762,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $37.79 on Wednesday. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 10.71 and a beta of 2.89. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $60.27. The firm’s fifty day moving average price is $36.34 and its 200 day moving average price is $41.14. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.82 billion. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. B. Riley began coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They issued a “buy” rating and a $70.00 target price on the stock. 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. JMP Securities dropped their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Truist Financial dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.07.

Insider Transactions at Caesars Entertainment

In related news, Director Michael E. Pegram purchased 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the acquisition, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caesars Entertainment news, Director Michael E. Pegram bought 10,000 shares of Caesars Entertainment stock in a transaction dated 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 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 SEC, which is available at this hyperlink. Also, Director Michael E. Pegram bought 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The shares were acquired 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 in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

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.