Allianz Asset Management GmbH Has $334,000 Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• Allianz Asset Management GmbH dramatically reduced its position in Caesars Entertainment, lowering its holdings by 96.1%, now owning 13,340 shares valued at $334,000.
• Analysts have mixed views on Caesars Entertainment, with recent target price adjustments ranging from $27.00 to $50.00, and a consensus rating of "Moderate Buy".
• Caesars Entertainment reported negative earnings of ($0.39) per share for the last quarter, missing expectations, although revenue increased 2.7% year-over-year to $2.91 billion.

Allianz Asset Management GmbH lessened its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 96.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,340 shares of the company's stock after selling 330,000 shares during the period. Allianz Asset Management GmbH's holdings in Caesars Entertainment were worth $334,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FIL Ltd purchased a new position in shares of Caesars Entertainment during the 4th quarter worth $28,000. Mather Group LLC. lifted its position in shares of Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after purchasing an additional 405 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $44,000. Allworth Financial LP lifted its position in Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after acquiring an additional 662 shares during the last quarter. Finally, Bogart Wealth LLC lifted its position in Caesars Entertainment by 82.8% during the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Down 3.1%

Shares of NASDAQ CZR traded down $0.77 during trading hours on Thursday, hitting $24.11. The stock had a trading volume of 3,940,233 shares, compared to its average volume of 5,530,377. The company has a market capitalization of $5.02 billion, a P/E ratio of -26.23 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. The firm's 50-day moving average price is $28.21 and its two-hundred day moving average price is $29.40. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted ($0.56) earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CZR. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Cfra reiterated a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Morgan Stanley reduced their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment has a consensus rating of "Moderate Buy" and an average target price of $42.47.

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.