Pitcairn Co. Reduces Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Pitcairn Co. reduced its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,094 shares of the company’s stock after selling 449 shares during the period. Pitcairn Co.’s holdings in Caesars Entertainment were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CZR. ExodusPoint Capital Management LP grew its holdings in Caesars Entertainment by 153.7% in the 4th quarter. ExodusPoint Capital Management LP now owns 303,402 shares of the company’s stock valued at $10,140,000 after buying an additional 183,799 shares in the last quarter. Bryce Point Capital LLC acquired a new position in shares of Caesars Entertainment during the 4th quarter valued at about $504,000. National Bank of Canada FI grew its holdings in shares of Caesars Entertainment by 263.7% in the fourth quarter. National Bank of Canada FI now owns 398,399 shares of the company’s stock valued at $13,314,000 after purchasing an additional 288,873 shares during the period. Venator Management LLC increased its position in Caesars Entertainment by 20.3% during the fourth quarter. Venator Management LLC now owns 404,365 shares of the company’s stock worth $13,514,000 after purchasing an additional 68,185 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Caesars Entertainment by 45.8% during the fourth quarter. Wellington Management Group LLP now owns 165,351 shares of the company’s stock worth $5,526,000 after purchasing an additional 51,946 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CZR. Raymond James dropped their price target on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 19th. JMP Securities cut their target price on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus reduced their target price on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group lowered their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Barclays reduced their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $23.18 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The firm has a market cap of $4.91 billion, a PE ratio of -13.88 and a beta of 2.97. The company’s 50 day moving average is $31.83 and its two-hundred day moving average is $36.12.

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

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.