Deltec Asset Management LLC trimmed its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 64.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after selling 36,000 shares during the quarter. Deltec Asset Management LLC’s holdings in Caesars Entertainment were worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of CZR. FMR LLC raised its stake in shares of Caesars Entertainment by 42.4% in the fourth quarter. FMR LLC now owns 26,532,690 shares of the company’s stock valued at $1,970,583,000 after acquiring an additional 7,894,252 shares during the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $132,892,000. Lord Abbett & CO. LLC raised its stake in shares of Caesars Entertainment by 162.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,190,233 shares of the company’s stock valued at $88,399,000 after acquiring an additional 737,487 shares during the last quarter. Northern Trust Corp raised its stake in shares of Caesars Entertainment by 25.5% in the fourth quarter. Northern Trust Corp now owns 2,799,677 shares of the company’s stock valued at $207,933,000 after acquiring an additional 568,574 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Caesars Entertainment by 35.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,477,483 shares of the company’s stock valued at $109,732,000 after acquiring an additional 390,389 shares during the last quarter. Institutional investors own 90.68% of the company’s stock.
Several research firms recently weighed in on CZR. Roth Capital boosted their price objective on shares of Caesars Entertainment from $95.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, March 4th. KeyCorp boosted their price target on shares of Caesars Entertainment from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, April 14th. Macquarie upped their target price on shares of Caesars Entertainment from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Morgan Stanley raised shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and set a $92.00 target price for the company in a research note on Monday, April 5th. Finally, Truist upped their target price on shares of Caesars Entertainment from $85.00 to $92.00 in a research note on Thursday, January 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Caesars Entertainment has an average rating of “Buy” and a consensus price target of $76.56.
Shares of CZR stock traded up $1.56 on Friday, reaching $95.68. The stock had a trading volume of 36,129 shares, compared to its average volume of 3,202,355. The company has a quick ratio of 2.53, a current ratio of 2.55 and a debt-to-equity ratio of 8.19. The firm’s 50-day moving average is $92.34 and its two-hundred day moving average is $75.59. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of -9.64 and a beta of 3.15. Caesars Entertainment, Inc. has a 12 month low of $15.29 and a 12 month high of $106.20.
Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Thursday, February 25th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.77) by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Caesars Entertainment had a negative net margin of 47.29% and a negative return on equity of 56.40%. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -9.66 earnings per share for the current fiscal year.
In other Caesars Entertainment news, COO Anthony L. Carano sold 25,000 shares of the stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the transaction, the chief operating officer now directly owns 93,020 shares of the company’s stock, valued at approximately $6,581,165. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Reeg sold 70,000 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $88.33, for a total transaction of $6,183,100.00. Following the completion of the transaction, the chief executive officer now directly owns 200,525 shares in the company, valued at $17,712,373.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,000 shares of company stock worth $15,112,600. 0.40% of the stock is owned by insiders.
Caesars Entertainment Company Profile
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos, including poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also offers staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.
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