Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Bought by American Trust

American Trust raised its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,346 shares of the company’s stock after acquiring an additional 313 shares during the quarter. American Trust’s holdings in Caesars Entertainment were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its stake in Caesars Entertainment by 26.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock worth $1,173,000 after acquiring an additional 5,715 shares during the last quarter. Second Line Capital LLC raised its position in shares of Caesars Entertainment by 18.0% during the 1st quarter. Second Line Capital LLC now owns 75,881 shares of the company’s stock worth $3,319,000 after purchasing an additional 11,597 shares during the period. Sona Asset Management US LLC acquired a new stake in Caesars Entertainment in the 1st quarter valued at approximately $5,249,000. EdgePoint Investment Group Inc. boosted its stake in Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares in the last quarter. Finally, Nut Tree Capital Management LP boosted its stake in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR traded down $1.70 during trading hours on Friday, hitting $35.66. 6,761,535 shares of the stock were exchanged, compared to its average volume of 5,328,713. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.67 and a current ratio of 0.70. The company has a market cap of $7.71 billion, a PE ratio of 10.10 and a beta of 2.99. The company’s fifty day simple moving average is $36.91 and its two-hundred day simple moving average is $39.44. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $58.29.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

CZR has been the subject of several research reports. Raymond James initiated coverage on Caesars Entertainment in a research note on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. B. Riley initiated coverage on Caesars Entertainment in a report on Thursday, May 9th. They set a “buy” rating and a $70.00 price objective for the company. Barclays cut their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Insider Activity

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of Caesars Entertainment stock in a transaction on Friday, May 31st. The shares were sold at an average price of $32.52, for a total transaction of $325,200.00. Following the completion of the transaction, the director now owns 350 shares of the company’s stock, valued at $11,382. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.64% of the company’s stock.

About Caesars Entertainment

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.