New York Life Investment Management LLC Trims Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

New York Life Investment Management LLC reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,973 shares of the company’s stock after selling 1,132 shares during the quarter. New York Life Investment Management LLC’s holdings in Caesars Entertainment were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Caesars Entertainment by 10.6% in the 3rd quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after acquiring an additional 261 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Caesars Entertainment by 0.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock valued at $1,625,000 after acquiring an additional 285 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Caesars Entertainment by 4.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock valued at $354,000 after acquiring an additional 295 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Caesars Entertainment by 13.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock worth $148,000 after buying an additional 376 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Caesars Entertainment by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,673 shares of the company’s stock worth $773,000 after buying an additional 404 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram purchased 40,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price 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 $191,167.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Pegram purchased 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by insiders.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $36.35 on Wednesday. The stock has a market cap of $7.87 billion, a PE ratio of 10.30 and a beta of 2.83. The business has a 50-day simple moving average of $40.46 and a 200-day simple moving average of $43.01. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. Caesars Entertainment, Inc. has a 52-week low of $35.09 and a 52-week 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 company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. On average, equities analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CZR. TD Cowen dropped their target price on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays dropped their target price on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Wells Fargo & Company dropped their target price on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 9th. Finally, Susquehanna lowered their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.83.

Caesars Entertainment 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.