Teacher Retirement System of Texas Invests $777,000 in Caesars Entertainment, Inc. (NASDAQ:CZR)

Teacher Retirement System of Texas bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,099 shares of the company’s stock, valued at approximately $777,000.

A number of other institutional investors also recently modified their holdings of the company. Cannell Capital LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at $13,498,000. Russell Investments Group Ltd. increased its position in shares of Caesars Entertainment by 5.0% during the 4th quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company’s stock valued at $26,840,000 after purchasing an additional 38,505 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Caesars Entertainment by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock valued at $780,854,000 after purchasing an additional 100,263 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at $504,000. Finally, Khrom Capital Management LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at $16,191,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. initiated coverage on Caesars Entertainment in a report on Monday, June 23rd. They issued an “overweight” rating and a $47.00 price objective for the company. The Goldman Sachs Group initiated coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a “buy” rating and a $36.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $45.00 price objective on shares of Caesars Entertainment in a report on Wednesday, April 30th. Finally, Truist Financial decreased their price objective on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Caesars Entertainment Stock Performance

Shares of CZR opened at $30.84 on Tuesday. The company has a market cap of $6.41 billion, a PE ratio of -28.29, a price-to-earnings-growth ratio of 18.75 and a beta of 2.29. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84. The stock has a 50-day moving average price of $28.27 and a 200-day moving average price of $29.91. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative net margin of 2.08% and a negative return on equity of 2.60%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.73) EPS. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

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.