Xponance Inc. Reduces Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Xponance Inc. lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,675 shares of the company’s stock after selling 3,691 shares during the quarter. Xponance Inc.’s holdings in Caesars Entertainment were worth $1,626,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CZR. Wright Investors Service Inc. purchased a new position in Caesars Entertainment during the 4th quarter worth approximately $449,000. Daiwa Securities Group Inc. grew its stake in Caesars Entertainment by 6.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 19,067 shares of the company’s stock worth $894,000 after buying an additional 1,197 shares during the last quarter. Strs Ohio grew its stake in Caesars Entertainment by 33.2% during the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after buying an additional 168,738 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Caesars Entertainment during the 4th quarter worth approximately $609,000. Finally, WCM Investment Management LLC grew its stake in Caesars Entertainment by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 334,335 shares of the company’s stock worth $15,988,000 after buying an additional 28,554 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

CZR has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. StockNews.com downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. JMP Securities lowered their target price on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a research note on Friday, April 19th. Finally, Truist Financial lowered their target price on Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.36.

Insider Buying and Selling

In other news, Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is currently owned by insiders.

Caesars Entertainment Stock Up 1.8 %

CZR opened at $39.12 on Wednesday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The business has a 50 day simple moving average of $41.56 and a 200-day simple moving average of $43.51. The stock has a market capitalization of $8.46 billion, a P/E ratio of 10.78 and a beta of 2.81. Caesars Entertainment, Inc. has a 12 month low of $37.71 and a 12 month high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post 1.07 earnings per share for the current fiscal year.

Caesars Entertainment Company 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.