Kanen Wealth Management LLC Sells 1,742 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Kanen Wealth Management LLC cut its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 376,760 shares of the company’s stock after selling 1,742 shares during the quarter. Caesars Entertainment makes up approximately 3.8% of Kanen Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Kanen Wealth Management LLC’s holdings in Caesars Entertainment were worth $9,419,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CZR. GAMMA Investing LLC raised its stake in shares of Caesars Entertainment by 106.8% in the first quarter. GAMMA Investing LLC now owns 3,987 shares of the company’s stock worth $100,000 after purchasing an additional 2,059 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 5.5% in the first quarter. Yousif Capital Management LLC now owns 19,661 shares of the company’s stock worth $492,000 after acquiring an additional 1,032 shares during the period. Chesley Taft & Associates LLC boosted its holdings in shares of Caesars Entertainment by 82.7% in the first quarter. Chesley Taft & Associates LLC now owns 40,355 shares of the company’s stock worth $1,009,000 after acquiring an additional 18,263 shares during the period. NBC Securities Inc. raised its holdings in shares of Caesars Entertainment by 111,975.0% in the 1st quarter. NBC Securities Inc. now owns 4,483 shares of the company’s stock valued at $112,000 after acquiring an additional 4,479 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Caesars Entertainment by 5.9% in the 1st quarter. Czech National Bank now owns 48,803 shares of the company’s stock valued at $1,220,000 after acquiring an additional 2,724 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CZR has been the topic of a number of analyst reports. Macquarie decreased their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their target price on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. JMP Securities reaffirmed a “market outperform” rating and set a $45.00 price target on shares of Caesars Entertainment in a report on Wednesday, April 30th. Finally, Capital One Financial upgraded Caesars Entertainment from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $51.00 to $47.00 in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.77.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $26.74 on Tuesday. The firm has a fifty day moving average price of $26.97 and a two-hundred day moving average price of $31.22. The company has a market cap of $5.56 billion, a PE ratio of -16.01 and a beta of 2.31. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted ($0.73) earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

About Caesars Entertainment

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.