Caesars Entertainment, Inc. $CZR Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Caesars Entertainment stake by 4.2% in the first quarter, selling 68,741 shares. It still held 1.58 million shares worth approximately $41.8 million, while institutional investors and hedge funds collectively owned 91.79% of the company.
• Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but missed earnings expectations with a loss of $0.30 per share versus the expected $0.05 profit. The company maintains significant leverage, with a debt-to-equity ratio of 3.70.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $30.71, close to its recent price of $29.73. Insiders also sold 293,463 shares worth roughly $8.6 million during the last quarter.

Dimensional Fund Advisors LP trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,581,294 shares of the company's stock after selling 68,741 shares during the period. Dimensional Fund Advisors LP owned about 0.78% of Caesars Entertainment worth $41,776,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Ruffer LLP purchased a new position in Caesars Entertainment in the fourth quarter worth $2,820,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock worth $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Caesars Entertainment during the 4th quarter worth $65,492,000. 1492 Capital Management LLC acquired a new position in shares of Caesars Entertainment during the 1st quarter worth $1,020,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Caesars Entertainment in the 1st quarter valued at about $2,392,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.73 on Tuesday. The firm has a market capitalization of $6.06 billion, a PE ratio of -13.04 and a beta of 1.76. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The firm's 50-day simple moving average is $29.66 and its 200 day simple moving average is $26.72. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.39) earnings per share. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -0.75 EPS for the current fiscal year.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram sold 16,897 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares of the company's stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock worth $8,609,241 over the last quarter. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Truist Financial downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment 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.

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