California Public Employees Retirement System Trims Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

California Public Employees Retirement System lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340,216 shares of the company’s stock after selling 34,563 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Caesars Entertainment worth $11,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board grew its holdings in Caesars Entertainment by 362.5% during the third quarter. Public Sector Pension Investment Board now owns 37,766 shares of the company’s stock valued at $1,576,000 after purchasing an additional 29,600 shares during the period. Captrust Financial Advisors increased its holdings in Caesars Entertainment by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock worth $836,000 after acquiring an additional 720 shares in the last quarter. Quarry LP bought a new stake in Caesars Entertainment during the 3rd quarter worth approximately $68,000. Quantinno Capital Management LP lifted its holdings in Caesars Entertainment by 610.4% during the third quarter. Quantinno Capital Management LP now owns 49,404 shares of the company’s stock valued at $2,062,000 after purchasing an additional 42,450 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in Caesars Entertainment during the third quarter valued at approximately $1,316,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 2.5 %

Shares of NASDAQ CZR opened at $23.18 on Friday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -13.88 and a beta of 2.97. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The firm’s 50-day moving average price is $31.83 and its 200-day moving average price is $36.12.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. On average, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CZR has been the topic of several recent analyst reports. JMP Securities decreased their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Truist Financial decreased their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $51.00 to $47.00 in a research note on Thursday. Barclays decreased their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Macquarie dropped their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.80.

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.