Arizona State Retirement System Boosts Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Arizona State Retirement System boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,170 shares of the company’s stock after buying an additional 457 shares during the period. Arizona State Retirement System’s holdings in Caesars Entertainment were worth $2,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Caesars Entertainment by 0.6% during the third quarter. Vanguard Group Inc. now owns 23,411,856 shares of the company’s stock worth $1,085,140,000 after buying an additional 129,541 shares during the period. BlackRock Inc. lifted its holdings in shares of Caesars Entertainment by 3.9% during the 1st quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock valued at $880,465,000 after purchasing an additional 676,512 shares during the last quarter. Point Break Capital Management LLC lifted its holdings in shares of Caesars Entertainment by 10.3% during the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after purchasing an additional 987,230 shares during the last quarter. State Street Corp lifted its holdings in shares of Caesars Entertainment by 4.4% during the 2nd quarter. State Street Corp now owns 7,883,415 shares of the company’s stock valued at $401,818,000 after purchasing an additional 329,604 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Caesars Entertainment by 2.9% during the 1st quarter. Capital International Investors now owns 4,965,083 shares of the company’s stock valued at $384,099,000 after purchasing an additional 140,802 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Activity

In other Caesars Entertainment news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the transaction, the director now directly owns 4,612 shares of the company’s stock, valued at $191,167.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR opened at $41.50 on Thursday. The business’s 50-day moving average is $42.33 and its two-hundred day moving average is $43.91. The company has a market capitalization of $8.98 billion, a P/E ratio of 11.43 and a beta of 2.81. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76. Caesars Entertainment, Inc. has a fifty-two week low of $38.33 and a fifty-two week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The company 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%. Caesars Entertainment’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. Research analysts predict that Caesars Entertainment, Inc. will post 1.1 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Caesars Entertainment from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley increased their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $65.00 target price on shares of Caesars Entertainment in a research report on Wednesday, February 21st. StockNews.com downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Finally, Stifel Nicolaus cut their target price on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.45.

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.