Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 98.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,288 shares of the company’s stock after selling 397,260 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Caesars Entertainment were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Caesars Entertainment by 0.3% during the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares during the period. UniSuper Management Pty Ltd raised its stake in Caesars Entertainment by 699.9% during the first quarter. UniSuper Management Pty Ltd now owns 24,029 shares of the company’s stock worth $1,051,000 after purchasing an additional 21,025 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Caesars Entertainment by 4.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 66,907 shares of the company’s stock worth $2,928,000 after purchasing an additional 2,596 shares during the period. Pitcairn Co. raised its stake in Caesars Entertainment by 95.1% during the first quarter. Pitcairn Co. now owns 14,875 shares of the company’s stock worth $651,000 after purchasing an additional 7,251 shares during the period. Finally, MQS Management LLC raised its stake in Caesars Entertainment by 35.7% during the first quarter. MQS Management LLC now owns 7,250 shares of the company’s stock worth $317,000 after purchasing an additional 1,907 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Up 0.6 %

NASDAQ CZR opened at $37.59 on Thursday. The stock has a market capitalization of $7.99 billion, a PE ratio of -22.51 and a beta of 2.96. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52 week low of $31.74 and a 52 week high of $50.51. The firm has a 50 day moving average of $41.63 and a two-hundred day moving average of $38.32.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group dropped their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JMP Securities reiterated a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays dropped their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.