Teachers Retirement System of The State of Kentucky Trims Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Teachers Retirement System of The State of Kentucky lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,107 shares of the company’s stock after selling 1,446 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Caesars Entertainment were worth $673,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after buying an additional 1,983,151 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after acquiring an additional 60,184 shares during the last quarter. Helikon Investments Ltd grew its holdings in Caesars Entertainment by 67.1% in the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock valued at $66,264,000 after purchasing an additional 637,303 shares during the period. Bamco Inc. NY acquired a new position in Caesars Entertainment during the third quarter worth approximately $61,890,000. Finally, Principal Financial Group Inc. raised its stake in Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after purchasing an additional 59,170 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $33.88 on Thursday. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $49.65. The company has a market capitalization of $7.20 billion, a PE ratio of -20.29 and a beta of 2.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The firm has a fifty day simple moving average of $40.07 and a 200-day simple moving average of $38.68.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CZR. Barclays lowered their price objective on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.71.

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.