Goldman Sachs Group Inc. Sells 1,635,862 Shares of Caesars Entertainment, Inc. $CZR

Goldman Sachs Group Inc. cut its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 25.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,774,398 shares of the company’s stock after selling 1,635,862 shares during the quarter. Goldman Sachs Group Inc. owned 2.34% of Caesars Entertainment worth $111,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in shares of Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the last quarter. Stance Capital LLC bought a new stake in Caesars Entertainment during the 3rd quarter worth approximately $43,000. Finally, Zions Bancorporation National Association UT grew its holdings in Caesars Entertainment by 5,384.4% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company’s stock worth $47,000 after acquiring an additional 1,723 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Trading Up 0.4%

NASDAQ:CZR opened at $29.32 on Tuesday. The firm’s fifty day moving average is $27.61 and its 200-day moving average is $24.94. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $31.58. The firm has a market cap of $5.97 billion, a P/E ratio of -12.37 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the company posted ($0.54) earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CZR shares. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Citigroup boosted their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, Barclays reduced their target price on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and an average target price of $32.80.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.