Van ECK Associates Corp Sells 2,809 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Van ECK Associates Corp reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 7.9% in the 4th quarter, HoldingsChannel reports. The firm owned 32,941 shares of the company’s stock after selling 2,809 shares during the period. Van ECK Associates Corp’s holdings in Caesars Entertainment were worth $1,544,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Caesars Entertainment by 26.4% during the 3rd quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after purchasing an additional 9,270 shares during the last quarter. Choreo LLC raised its stake in shares of Caesars Entertainment by 39.1% in the fourth quarter. Choreo LLC now owns 17,678 shares of the company’s stock worth $829,000 after acquiring an additional 4,970 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caesars Entertainment by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock worth $95,144,000 after acquiring an additional 77,595 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Caesars Entertainment in the third quarter worth about $2,259,000. Finally, Strs Ohio raised its stake in shares of Caesars Entertainment by 33.2% in the fourth quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after acquiring an additional 168,738 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Up 3.0 %

Shares of NASDAQ CZR opened at $37.30 on Friday. The stock has a market cap of $8.07 billion, a P/E ratio of 10.57 and a beta of 2.83. The firm has a 50 day moving average price of $40.23 and a 200 day moving average price of $42.92. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. 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 analysts’ consensus estimates of ($0.03) by ($0.31). The firm had revenue of $2.83 billion for 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 firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CZR shares. Barclays dropped their target price 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. Stifel Nicolaus dropped their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. TD Cowen lowered their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.08.

Insider Activity

In related news, Director Michael E. Pegram purchased 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the acquisition, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Pegram acquired 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the transaction, the director now owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

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.