Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 535.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 309,541 shares of the company’s stock after purchasing an additional 260,861 shares during the period. Retirement Systems of Alabama owned about 0.14% of Caesars Entertainment worth $14,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Caesars Entertainment by 26.4% in the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after buying an additional 9,270 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Caesars Entertainment by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after buying an additional 77,595 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Caesars Entertainment in the third quarter valued at $2,259,000. Strs Ohio increased its holdings in Caesars Entertainment by 33.2% in the fourth quarter. Strs Ohio now owns 676,706 shares of the company’s stock valued at $31,723,000 after buying an additional 168,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Caesars Entertainment by 1,029.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock valued at $11,998,000 after buying an additional 233,271 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

CZR opened at $36.38 on Thursday. The firm has a market capitalization of $7.87 billion, a PE ratio of 9.90 and a beta of 2.81. Caesars Entertainment, Inc. has a twelve month low of $35.12 and a twelve month high of $60.27. The firm’s 50-day moving average price is $41.04 and its 200 day moving average price is $43.25. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram bought 15,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the acquisition, the director now directly owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on CZR shares. Susquehanna cut their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, January 9th. Wells Fargo & Company cut their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.