Citigroup Inc. Reduces Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Citigroup Inc. lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) by 91.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,448 shares of the company’s stock after selling 1,563,360 shares during the quarter. Citigroup Inc.’s holdings in Caesars Entertainment were worth $10,866,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cetera Advisor Networks LLC purchased a new stake in Caesars Entertainment during the 1st quarter worth about $268,000. Oppenheimer & Co. Inc. increased its position in Caesars Entertainment by 42.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,029 shares of the company’s stock worth $1,163,000 after purchasing an additional 4,457 shares in the last quarter. 1492 Capital Management LLC increased its position in Caesars Entertainment by 1.5% during the 1st quarter. 1492 Capital Management LLC now owns 47,603 shares of the company’s stock worth $3,683,000 after purchasing an additional 709 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Caesars Entertainment by 10.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,304 shares of the company’s stock worth $2,654,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its position in Caesars Entertainment by 3.2% during the 1st quarter. Pinebridge Investments L.P. now owns 45,270 shares of the company’s stock worth $3,502,000 after purchasing an additional 1,393 shares in the last quarter. Hedge funds and other institutional investors own 95.55% of the company’s stock.

Insider Buying and Selling

In other Caesars Entertainment news, Director Don R. Kornstein acquired 2,500 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were bought at an average cost of $38.10 per share, for a total transaction of $95,250.00. Following the acquisition, the director now directly owns 34,353 shares of the company’s stock, valued at $1,308,849.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Caesars Entertainment news, Director Don R. Kornstein acquired 4,000 shares of the company’s stock in a transaction on Monday, June 13th. The shares were bought at an average cost of $39.60 per share, for a total transaction of $158,400.00. Following the acquisition, the director now directly owns 30,853 shares of the company’s stock, valued at $1,221,778.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Don R. Kornstein acquired 2,500 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were acquired at an average price of $38.10 per share, for a total transaction of $95,250.00. Following the completion of 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. 0.50% of the stock is currently owned by corporate insiders.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $42.60 on Monday. The stock’s 50 day moving average price is $44.01 and its 200 day moving average price is $57.61. The firm has a market capitalization of $9.13 billion, a PE ratio of -6.19 and a beta of 2.79. The company has a debt-to-equity ratio of 7.06, a quick ratio of 0.99 and a current ratio of 1.00. Caesars Entertainment, Inc. has a one year low of $35.10 and a one year high of $119.81.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price objective on Caesars Entertainment from $113.00 to $63.00 in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Caesars Entertainment from $90.00 to $64.00 in a research note on Wednesday, August 3rd. KeyCorp lowered Caesars Entertainment to a “sector weight” rating in a research note on Tuesday, July 19th. Susquehanna Bancshares began 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. Finally, Truist Financial decreased their price target on Caesars Entertainment from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Caesars Entertainment Profile

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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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