Caesars Entertainment, Inc. (NASDAQ:CZR) Stake Lowered by III Capital Management

III Capital Management trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 61.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,373 shares of the company’s stock after selling 29,143 shares during the period. III Capital Management’s holdings in Caesars Entertainment were worth $730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares in the last quarter. Mather Group LLC. bought a new position in Caesars Entertainment during the first quarter valued at about $53,000. TFO Wealth Partners LLC lifted its position in shares of Caesars Entertainment by 22,920.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Caesars Entertainment during the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $40.85 on Wednesday. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The firm has a market cap of $8.84 billion, a P/E ratio of 11.57 and a beta of 2.96. The firm’s 50-day simple moving average is $37.07 and its 200-day simple moving average is $37.85.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CZR shares. JMP Securities boosted their target price on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a report on Thursday, August 22nd. Stifel Nicolaus upped their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lifted their price objective on Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $54.14.

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.