Caesars Entertainment, Inc. $CZR Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,601,889 shares of the company’s stock after selling 71,595 shares during the period. Geode Capital Management LLC owned about 1.76% of Caesars Entertainment worth $84,267,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ING Groep NV lifted its position in shares of Caesars Entertainment by 80.2% during the third quarter. ING Groep NV now owns 599,854 shares of the company’s stock worth $16,211,000 after purchasing an additional 266,917 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Caesars Entertainment by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after purchasing an additional 2,490,924 shares in the last quarter. Capital World Investors lifted its position in shares of Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Caesars Entertainment by 61.9% during the fourth quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company’s stock worth $25,677,000 after purchasing an additional 419,617 shares in the last quarter. Finally, HighVista Strategies LLC acquired a new position in shares of Caesars Entertainment during the third quarter worth $1,162,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CZR. Raymond James Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Macquarie Infrastructure cut shares of Caesars Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, June 1st. Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Citizens Jmp upped their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, April 29th. Finally, Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the company from $32.00 to $31.00 in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Caesars Entertainment has an average rating of “Hold” and an average target price of $32.80.

Caesars Entertainment Price Performance

CZR stock opened at $29.20 on Monday. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58. The firm has a fifty day moving average price of $27.56 and a two-hundred day moving average price of $24.88. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -12.32 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last released its 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). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the firm earned ($0.54) EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that Caesars Entertainment, Inc. will post -0.49 EPS 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 dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

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.