AQR Capital Management LLC Sells 2,076,595 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

AQR Capital Management LLC cut its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 78.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 556,917 shares of the company’s stock after selling 2,076,595 shares during the period. AQR Capital Management LLC owned approximately 0.26% of Caesars Entertainment worth $22,026,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Caesars Entertainment by 270.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock worth $1,239,000 after purchasing an additional 20,692 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in Caesars Entertainment by 881.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,506 shares of the company’s stock worth $1,196,000 after purchasing an additional 22,906 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Caesars Entertainment by 201.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock valued at $2,650,000 after purchasing an additional 40,517 shares during the period. Finally, Morningstar Investment Services LLC bought a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $278,000. 91.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CZR shares. Stifel Nicolaus upped their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JMP Securities lifted their price target on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Thursday, August 22nd. Susquehanna restated a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Jefferies Financial Group cut their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $41.74 on Tuesday. The company has a market cap of $9.03 billion, a PE ratio of 11.82 and a beta of 2.96. The firm’s 50 day moving average price is $37.40 and its 200-day moving average price is $37.84. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.02 EPS 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.