Retirement Systems of Alabama Has $11.38 Million Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Retirement Systems of Alabama cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 7.6% in the third quarter, Holdings Channel.com reports. The firm owned 272,632 shares of the company’s stock after selling 22,328 shares during the quarter. Retirement Systems of Alabama’s holdings in Caesars Entertainment were worth $11,380,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Caesars Entertainment by 1.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after buying an additional 60,184 shares during the last quarter. Helikon Investments Ltd lifted its position in Caesars Entertainment by 67.1% during the 3rd quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after buying an additional 637,303 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Caesars Entertainment during the 3rd quarter worth about $61,890,000. Finally, Principal Financial Group Inc. increased its position in shares of Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after acquiring an additional 59,170 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

CZR opened at $36.52 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The business has a fifty day simple moving average of $40.42 and a 200 day simple moving average of $38.71. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $49.65. The company has a market capitalization of $7.76 billion, a PE ratio of -21.87 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company posted $0.34 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Research analysts expect that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CZR shares. Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Barclays dropped their price target on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. JMP Securities dropped their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Finally, StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.71.

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.