Caesars Entertainment, Inc. $CZR Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its stake in Caesars Entertainment, Inc. by 28.2%, selling 485,971 shares, lowering its ownership to 0.60% valued at approximately $30.96 million.
• Caesars reported a quarterly loss of ($0.39) earnings per share, significantly below the expected consensus of $0.07, despite a revenue increase of 2.7% year-over-year to $2.91 billion.
• Several analysts have adjusted their price targets for Caesars Entertainment, with estimates now ranging from $27.00 to $43.00, indicating a mixed outlook among financial experts.

BNP Paribas Financial Markets reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,238,422 shares of the company's stock after selling 485,971 shares during the quarter. BNP Paribas Financial Markets owned 0.60% of Caesars Entertainment worth $30,961,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. raised its position in Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares in the last quarter. Allworth Financial LP increased its position in shares of Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after purchasing an additional 662 shares in the last quarter. Bogart Wealth LLC boosted its stake in Caesars Entertainment by 82.8% during the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after buying an additional 700 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in Caesars Entertainment by 35.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after buying an additional 477 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $105,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CZR. Cfra reiterated a "hold" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. Macquarie cut their target price on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. JMP Securities dropped their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Barclays dropped their price objective on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.47.

Caesars Entertainment Stock Up 2.3%

NASDAQ CZR traded up $0.59 during mid-day trading on Friday, reaching $26.34. 6,346,343 shares of the company's stock traded hands, compared to its average volume of 5,559,893. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a fifty day simple moving average of $27.50 and a 200-day simple moving average of $27.75. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -28.63 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.