Hollencrest Capital Management Trims Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Hollencrest Capital Management decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,524 shares of the company’s stock after selling 441 shares during the quarter. Hollencrest Capital Management’s holdings in Caesars Entertainment were worth $498,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC increased its holdings in shares of Caesars Entertainment by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock valued at $236,000 after acquiring an additional 538 shares during the period. Principal Securities Inc. acquired a new position in Caesars Entertainment in the 4th quarter valued at about $46,000. Dimensional Fund Advisors LP raised its stake in Caesars Entertainment by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,616,373 shares of the company’s stock valued at $75,789,000 after acquiring an additional 9,213 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Caesars Entertainment by 487.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 39,472 shares of the company’s stock worth $1,850,000 after acquiring an additional 32,752 shares during the period. Finally, Norges Bank purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at approximately $102,213,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JMP Securities upped their target price on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley dropped their target price 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Caesars Entertainment Trading Up 3.3 %

Shares of CZR opened at $41.58 on Friday. The stock has a market cap of $9.00 billion, a PE ratio of 11.78 and a beta of 2.96. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $51.24. The stock’s 50-day moving average is $36.92 and its two-hundred day moving average is $37.88.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. Equities analysts forecast that Caesars Entertainment, Inc. will post 0.06 earnings per share for the current fiscal year.

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.