Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,700 shares of the company’s stock after selling 1,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Caesars Entertainment were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Point Break Capital Management LLC lifted its position in shares of Caesars Entertainment by 16.8% in the second quarter. Point Break Capital Management LLC now owns 9,735,133 shares of the company’s stock worth $1,010,020,000 after buying an additional 1,397,483 shares during the last quarter. Invesco Ltd. lifted its position in shares of Caesars Entertainment by 1.8% during the 2nd quarter. Invesco Ltd. now owns 7,730,814 shares of the company’s stock worth $802,072,000 after purchasing an additional 136,667 shares during the last quarter. Capital International Investors bought a new position in Caesars Entertainment during the second quarter valued at about $459,177,000. Lord Abbett & CO. LLC increased its stake in Caesars Entertainment by 52.7% during the third quarter. Lord Abbett & CO. LLC now owns 2,511,796 shares of the company’s stock valued at $282,024,000 after acquiring an additional 867,401 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Caesars Entertainment by 5.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,303,624 shares of the company’s stock valued at $135,251,000 after acquiring an additional 65,383 shares during the period. Institutional investors and hedge funds own 93.66% of the company’s stock.
Several research firms have recently weighed in on CZR. Stifel Nicolaus upped their price objective on Caesars Entertainment from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, October 8th. Truist reduced their price objective on Caesars Entertainment from $140.00 to $110.00 in a report on Thursday. Morgan Stanley upped their price objective on Caesars Entertainment from $127.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, October 20th. B. Riley assumed coverage on Caesars Entertainment in a report on Friday, November 12th. They set a “buy” rating and a $191.00 price objective on the stock. Finally, Truist Securities reduced their price objective on Caesars Entertainment from $140.00 to $110.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $126.94.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, November 2nd. The company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($1.16). The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.66 billion. Caesars Entertainment had a negative net margin of 13.60% and a negative return on equity of 21.28%. During the same quarter in the prior year, the company earned ($6.09) EPS. On average, analysts forecast that Caesars Entertainment, Inc. will post -3.29 EPS for the current fiscal year.
In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 5,279 shares of the stock in a transaction dated Tuesday, January 4th. The stock was sold at an average price of $89.60, for a total transaction of $472,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
Caesars Entertainment Profile
Caesars Holdings, Inc is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.
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