Geode Capital Management LLC Sells 3,672 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Geode Capital Management LLC decreased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,275,102 shares of the company’s stock after selling 3,672 shares during the quarter. Geode Capital Management LLC’s holdings in Caesars Entertainment were worth $176,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CZR. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Caesars Entertainment by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock valued at $1,287,000 after buying an additional 408 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after acquiring an additional 470 shares in the last quarter. Lebenthal Global Advisors LLC grew its position in Caesars Entertainment by 5.7% during the 4th quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after acquiring an additional 587 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Caesars Entertainment by 12.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,563 shares of the company’s stock valued at $186,000 after purchasing an additional 601 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Caesars Entertainment by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock valued at $836,000 after purchasing an additional 720 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $23.18 on Monday. The stock has a market cap of $4.91 billion, a PE ratio of -13.88 and a beta of 2.67. The stock has a 50-day moving average of $31.83 and a 200-day moving average of $36.09. 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, Inc. has a one year low of $21.40 and a one year high of $45.93.

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

Wall Street Analyst Weigh In

CZR has been the topic of several research analyst reports. Raymond James decreased their target price on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 19th. TD Cowen lowered their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. JMP Securities reduced their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, Truist Financial reduced their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.80.

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.