Public Employees Retirement System of Ohio Cuts Position in Caesars Entertainment, Inc. $CZR

Public Employees Retirement System of Ohio lessened its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,077 shares of the company’s stock after selling 944 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Caesars Entertainment were worth $1,819,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CZR. Assenagon Asset Management S.A. increased its stake in Caesars Entertainment by 103.5% during the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock worth $4,719,000 after acquiring an additional 84,545 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock worth $87,399,000 after acquiring an additional 3,192,224 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Caesars Entertainment by 14.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company’s stock worth $261,000 after acquiring an additional 1,360 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Caesars Entertainment during the first quarter worth approximately $540,000. Finally, HG Vora Capital Management LLC increased its stake in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock worth $97,500,000 after acquiring an additional 1,650,000 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR opened at $27.27 on Friday. The business’s 50-day moving average is $26.04 and its two-hundred day moving average is $27.13. The company has a market capitalization of $5.67 billion, a P/E ratio of -29.64 and a beta of 2.38. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.Caesars Entertainment’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.56) earnings per share. Research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on CZR. JMP Securities cut their target price on Caesars Entertainment from $43.00 to $41.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 16th. Truist Financial lowered their target price on Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Caesars Entertainment in a report on Monday, July 7th. They set a “buy” rating and a $36.00 target price for the company. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Finally, Citigroup restated a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average target price of $42.33.

Caesars Entertainment 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.