Brookstone Capital Management Reduces Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Brookstone Capital Management lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,446 shares of the company’s stock after selling 295 shares during the quarter. Brookstone Capital Management’s holdings in Caesars Entertainment were worth $326,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CZR. Norges Bank acquired a new position in Caesars Entertainment in the fourth quarter valued at about $102,213,000. AQR Capital Management LLC lifted its position in Caesars Entertainment by 938.7% in the third 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 during the last quarter. Capital World Investors lifted its position in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after buying an additional 916,282 shares during the last quarter. Vision One Management Partners LP acquired a new position in Caesars Entertainment in the fourth quarter valued at about $28,754,000. Finally, Nordea Investment Management AB lifted its position in Caesars Entertainment by 338.0% in the fourth quarter. Nordea Investment Management AB now owns 534,723 shares of the company’s stock valued at $25,223,000 after buying an additional 412,631 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $37.75 on Tuesday. The firm has a market capitalization of $8.17 billion, a P/E ratio of 10.69 and a beta of 2.99. Caesars Entertainment, Inc. has a 52 week low of $31.74 and a 52 week 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 firm’s 50 day moving average is $36.37 and its two-hundred day moving average is $40.94.

Caesars Entertainment (NASDAQ:CZR) last announced 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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. Research analysts forecast that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram bought 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the completion of the transaction, the director now 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 this hyperlink. In related news, Director Michael E. Pegram purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. Also, Director Michael E. Pegram purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $31.96 per share, with a total value of $319,600.00. Following the completion of the acquisition, the director now owns 191,697 shares of the company’s stock, valued at $6,126,636.12. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

CZR has been the topic of a number of recent analyst reports. JMP Securities decreased 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 research report on Thursday, May 2nd. Raymond James started coverage on shares of 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. Barclays reduced their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, B. Riley started coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They set a “buy” rating and a $70.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.07.

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.