Sumitomo Mitsui Trust Holdings Inc. Sells 12,361 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZRFree Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 436,928 shares of the company’s stock after selling 12,361 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Caesars Entertainment worth $19,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Caesars Entertainment by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after buying an additional 148,034 shares in the last quarter. Capital World Investors raised its stake in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares in the last quarter. HG Vora Capital Management LLC raised its stake in Caesars Entertainment by 2.0% in the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after buying an additional 100,000 shares in the last quarter. Norges Bank bought a new position in Caesars Entertainment in the fourth quarter worth approximately $102,213,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Caesars Entertainment by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,165,196 shares of the company’s stock worth $101,504,000 after buying an additional 112,458 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $36.81 on Wednesday. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $60.27. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 10.43 and a beta of 2.98. The firm’s fifty day moving average is $36.35 and its two-hundred day moving average is $40.51.

Caesars Entertainment (NASDAQ:CZRGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Research analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram bought 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $31.96 per share, with a total value of $319,600.00. Following the purchase, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael E. Pegram bought 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $31.96 per share, with a total value of $319,600.00. Following the purchase, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael E. Pegram bought 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the purchase, the director now owns 181,697 shares in the company, valued at $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JMP Securities reduced their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley upped their price target on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Stifel Nicolaus reduced their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Barclays reduced their price target on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

View Our Latest Stock Analysis on Caesars Entertainment

About Caesars Entertainment

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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