California Public Employees Retirement System Sells 12,552 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

California Public Employees Retirement System trimmed its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 360,684 shares of the company’s stock after selling 12,552 shares during the quarter. California Public Employees Retirement System’s holdings in Caesars Entertainment were worth $16,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Caesars Entertainment by 938.7% during the third quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after acquiring an additional 942,621 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Caesars Entertainment by 481.7% in the third quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock worth $42,087,000 after purchasing an additional 751,938 shares during the period. Blackstone Inc. bought a new stake in Caesars Entertainment during the 3rd quarter worth about $34,762,000. Nordea Investment Management AB lifted its position in Caesars Entertainment by 338.0% during the 4th quarter. Nordea Investment Management AB now owns 534,723 shares of the company’s stock valued at $25,223,000 after purchasing an additional 412,631 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Caesars Entertainment by 37.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,433,641 shares of the company’s stock valued at $67,209,000 after purchasing an additional 387,391 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of recent research reports. Barclays dropped their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. StockNews.com downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 12th. JMP Securities cut 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 decreased their target price on Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $57.36.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.64% of the stock is owned by corporate insiders.

Caesars Entertainment Stock Up 2.6 %

Shares of CZR stock opened at $37.57 on Tuesday. Caesars Entertainment, Inc. has a 12-month low of $36.34 and a 12-month high of $60.27. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. The firm has a fifty day moving average of $41.26 and a 200-day moving average of $43.34. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 10.35 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company posted ($0.11) earnings per share. Caesars Entertainment’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

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.