Citigroup Inc. Has $4.90 Million Stake in Caesars Entertainment, Inc. $CZR

Citigroup Inc. lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 81.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,120 shares of the company’s stock after selling 818,736 shares during the period. Citigroup Inc. owned about 0.09% of Caesars Entertainment worth $4,895,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pekin Hardy Strauss Inc. boosted its stake in shares of Caesars Entertainment by 23.2% in the third quarter. Pekin Hardy Strauss Inc. now owns 264,658 shares of the company’s stock valued at $7,152,000 after buying an additional 49,769 shares during the period. Readystate Asset Management LP raised its holdings in Caesars Entertainment by 2.0% in the 3rd quarter. Readystate Asset Management LP now owns 607,441 shares of the company’s stock valued at $16,416,000 after acquiring an additional 11,972 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Caesars Entertainment by 20.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 25,009 shares of the company’s stock valued at $676,000 after acquiring an additional 4,266 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Caesars Entertainment during the 3rd quarter worth $502,000. Finally, Zions Bancorporation National Association UT grew its holdings in shares of Caesars Entertainment by 5,384.4% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company’s stock worth $47,000 after purchasing an additional 1,723 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CZR has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $22.00 in a research report on Tuesday, November 4th. Stifel Nicolaus dropped their target price on shares of Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. Barclays decreased their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Susquehanna raised Caesars Entertainment from a “neutral” rating to a “positive” rating and raised their target price for the company from $25.00 to $31.00 in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $33.24.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $25.03 on Wednesday. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $31.58. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The company has a market cap of $5.09 billion, a price-to-earnings ratio of -10.30, a PEG ratio of 338.46 and a beta of 1.94. The firm has a 50 day simple moving average of $22.50 and a 200 day simple moving average of $23.25.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.