Victory Capital Management Inc. Sells 987,406 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Victory Capital Management Inc. decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) by 79.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 259,558 shares of the company’s stock after selling 987,406 shares during the quarter. Victory Capital Management Inc.’s holdings in Caesars Entertainment were worth $19,147,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CZR. Janney Montgomery Scott LLC lifted its holdings in Caesars Entertainment by 18.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,394 shares of the company’s stock worth $411,000 after buying an additional 695 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Caesars Entertainment during the 4th quarter worth $1,272,000. Illinois Municipal Retirement Fund lifted its holdings in Caesars Entertainment by 32.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,467 shares of the company’s stock worth $792,000 after buying an additional 2,098 shares in the last quarter. Yousif Capital Management LLC acquired a new position in Caesars Entertainment during the 4th quarter worth $2,109,000. Finally, CWM LLC acquired a new position in Caesars Entertainment during the 4th quarter worth $122,000. Institutional investors and hedge funds own 94.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Caesars Entertainment from $113.00 to $63.00 in a research note on Tuesday, July 19th. Susquehanna assumed coverage on Caesars Entertainment in a research note on Wednesday, July 20th. They issued a “neutral” rating and a $32.00 price target on the stock. Morgan Stanley cut their price target on Caesars Entertainment from $122.00 to $99.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Bank of America cut their price target on Caesars Entertainment from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Finally, Cowen cut their price target on Caesars Entertainment from $105.00 to $87.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Caesars Entertainment Price Performance

CZR stock opened at $48.18 on Friday. The stock has a 50-day moving average price of $43.50 and a two-hundred day moving average price of $61.97. The stock has a market cap of $10.33 billion, a PE ratio of -7.00 and a beta of 2.79. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 6.82. Caesars Entertainment, Inc. has a 1 year low of $35.10 and a 1 year high of $119.81.

Caesars Entertainment (NASDAQ:CZRGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported ($2.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.15) by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Caesars Entertainment had a negative return on equity of 19.99% and a negative net margin of 14.14%. The company’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.06) EPS. Equities analysts forecast that Caesars Entertainment, Inc. will post -1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $52.00, for a total transaction of $140,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $52.00, for a total value of $140,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don R. Kornstein acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of $38.10 per share, with a total value of $95,250.00. Following the acquisition, the director now directly owns 34,353 shares in the company, valued at $1,308,849.30. The disclosure for this purchase can be found here. Corporate insiders own 0.55% of the company’s stock.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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