State of Alaska Department of Revenue Trims Stock Position in Caesars Entertainment, Inc. $CZR

State of Alaska Department of Revenue cut its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,331 shares of the company’s stock after selling 1,560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Caesars Entertainment were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CZR. UMB Bank n.a. grew its stake in Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after purchasing an additional 359 shares in the last quarter. Mather Group LLC. grew its stake in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock valued at $26,000 after purchasing an additional 405 shares in the last quarter. Resona Asset Management Co. Ltd. grew its stake in Caesars Entertainment by 35.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock valued at $46,000 after purchasing an additional 477 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Caesars Entertainment by 69.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after purchasing an additional 478 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after purchasing an additional 662 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CZR shares. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Macquarie reduced their target price on Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Susquehanna reduced their target price on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Caesars Entertainment Stock Down 6.6%

Shares of Caesars Entertainment stock opened at $24.65 on Wednesday. The business’s fifty day moving average price is $25.91 and its two-hundred day moving average price is $27.08. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $5.13 billion, a P/E ratio of -26.79 and a beta of 2.38. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its 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). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm earned ($0.56) EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current 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.