Charles Schwab Investment Management Inc. Sells 112,280 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,865,300 shares of the company’s stock after selling 112,280 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Caesars Entertainment were worth $77,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. Helikon Investments Ltd purchased a new stake in Caesars Entertainment in the second quarter worth about $37,763,000. Bank of Montreal Can lifted its holdings in Caesars Entertainment by 451.6% in the second quarter. Bank of Montreal Can now owns 1,017,484 shares of the company’s stock worth $40,577,000 after buying an additional 833,039 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Caesars Entertainment by 783.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 928,529 shares of the company’s stock valued at $36,900,000 after acquiring an additional 823,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Caesars Entertainment by 183.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 801,237 shares of the company’s stock worth $31,841,000 after acquiring an additional 518,369 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 1.1 %

CZR stock opened at $38.25 on Thursday. The stock has a market capitalization of $8.13 billion, a P/E ratio of -22.90 and a beta of 2.96. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $50.51. The business has a fifty day moving average price of $41.60 and a 200-day moving average price of $38.39.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CZR shares. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, JMP Securities decreased their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.86.

Caesars Entertainment Company 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.