Van ECK Associates Corp Reduces Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Van ECK Associates Corp decreased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,122 shares of the company’s stock after selling 3,569 shares during the period. Van ECK Associates Corp’s holdings in Caesars Entertainment were worth $1,375,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its holdings in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after buying an additional 248 shares in the last quarter. American Trust grew its position in shares of Caesars Entertainment by 4.5% in the 1st quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after buying an additional 313 shares during the last quarter. Private Advisor Group LLC grew its position in Caesars Entertainment by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after purchasing an additional 317 shares during the last quarter. GAMMA Investing LLC grew its position in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

CZR opened at $40.22 on Tuesday. The company has a fifty day simple moving average of $41.42 and a 200 day simple moving average of $38.24. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of -24.08 and a beta of 2.96. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $0.34 earnings per share. Caesars Entertainment’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts expect that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Barclays lowered their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Company 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.