Quantinno Capital Management LP Decreases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Quantinno Capital Management LP cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,992 shares of the company's stock after selling 30,412 shares during the quarter. Quantinno Capital Management LP's holdings in Caesars Entertainment were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Caesars Entertainment by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock valued at $780,854,000 after buying an additional 100,263 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after acquiring an additional 2,555,876 shares during the period. Cohen & Steers Inc. increased its position in Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after acquiring an additional 1,882,728 shares during the last quarter. Invesco Ltd. lifted its holdings in Caesars Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock valued at $185,594,000 after acquiring an additional 1,213,426 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in Caesars Entertainment by 41.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company's stock worth $122,274,000 after purchasing an additional 1,065,506 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

CZR traded down $0.21 on Friday, hitting $27.06. 445,783 shares of the company's stock traded hands, compared to its average volume of 4,916,376. The company's 50 day simple moving average is $26.98 and its 200-day simple moving average is $31.88. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -16.20 and a beta of 2.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned ($0.73) earnings per share. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Macquarie reduced their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Truist Financial decreased their price target on shares of Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. TD Cowen reduced their price objective on Caesars Entertainment from $50.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Finally, JMP Securities reiterated a "market outperform" rating and set a $45.00 target price on shares of Caesars Entertainment in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.77.

Caesars Entertainment 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.