BNP Paribas Financial Markets Sells 269,581 Shares of Caesars Entertainment, Inc. $CZR

BNP Paribas Financial Markets decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 17.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,239,919 shares of the company’s stock after selling 269,581 shares during the quarter. BNP Paribas Financial Markets’ holdings in Caesars Entertainment were worth $29,002,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Caesars Entertainment in the 4th quarter worth about $76,050,000. Eurizon Capital SGR S.p.A. bought a new position in Caesars Entertainment in the 4th quarter worth about $85,000. Northwestern Mutual Wealth Management Co. boosted its stake in Caesars Entertainment by 25.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,691 shares of the company’s stock worth $203,000 after purchasing an additional 1,743 shares during the period. Jupiter Asset Management Ltd. bought a new position in Caesars Entertainment in the 4th quarter worth about $33,271,000. Finally, Penn Capital Management Company LLC lifted its position in Caesars Entertainment by 26.4% in the 4th quarter. Penn Capital Management Company LLC now owns 759,842 shares of the company’s stock worth $17,820,000 after buying an additional 158,782 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

CZR has been the topic of several research analyst reports. Morgan Stanley boosted their target price on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Wall Street Zen raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Finally, Citigroup upped their price target on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.80.

Insiders Place Their Bets

In related news, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by insiders.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $29.26 on Friday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -12.35 and a beta of 1.77. The business’s fifty day moving average is $27.51 and its 200 day moving average is $24.82. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25.

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

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.