Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by Shell Asset Management Co.

Posted by on May 5th, 2023

Shell Asset Management Co. decreased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,686 shares of the company’s stock after selling 2,935 shares during the period. Shell Asset Management Co.’s holdings in Caesars Entertainment were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wipfli Financial Advisors LLC acquired a new stake in Caesars Entertainment during the 3rd quarter worth about $25,000. Assetmark Inc. increased its position in shares of Caesars Entertainment by 78.1% during the third quarter. Assetmark Inc. now owns 1,092 shares of the company’s stock valued at $35,000 after purchasing an additional 479 shares during the period. Global Retirement Partners LLC boosted its position in shares of Caesars Entertainment by 76.1% during the 3rd quarter. Global Retirement Partners LLC now owns 805 shares of the company’s stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Caesars Entertainment by 57.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,225 shares of the company’s stock valued at $40,000 after buying an additional 448 shares in the last quarter. Finally, Eisler Capital UK Ltd. acquired a new position in Caesars Entertainment in the third quarter valued at about $48,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Caesars Entertainment Stock Down 1.5 %

Shares of NASDAQ CZR opened at $43.36 on Friday. The business has a 50-day moving average of $46.12 and a 200-day moving average of $47.14. Caesars Entertainment, Inc. has a 12 month low of $31.31 and a 12 month high of $67.16. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 3.37. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of -26.12 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative net margin of 8.31% and a negative return on equity of 10.17%. Sell-side analysts expect that Caesars Entertainment, Inc. will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CZR. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Barclays lifted their target price on Caesars Entertainment from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 1st. Wells Fargo & Company raised their price target on shares of Caesars Entertainment from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. Finally, StockNews.com downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, March 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.62.

About Caesars Entertainment

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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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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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