Citigroup Inc. Has $13.63 Million Holdings in Caesars Entertainment, Inc. $CZR

Key Points

• Citigroup Inc. decreased its holdings in Caesars Entertainment by 2.1%, selling 11,556 shares, and now owns approximately 0.26% of the company valued at $13.6 million.
• Several large investors, including Vanguard Group Inc. and DAVENPORT & Co LLC, have increased their stakes in Caesars Entertainment, indicating continued interest from institutional investors.
• Caesars Entertainment reported a quarterly loss of ($0.39) earnings per share, missing expectations, but achieved a revenue of $2.91 billion, exceeding analyst estimates despite a negative net margin.

Citigroup Inc. lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,083 shares of the company's stock after selling 11,556 shares during the quarter. Citigroup Inc. owned 0.26% of Caesars Entertainment worth $13,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CZR. Envestnet Asset Management Inc. lifted its position in shares of Caesars Entertainment by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 131,835 shares of the company's stock worth $4,406,000 after buying an additional 6,779 shares during the period. Sterling Capital Management LLC lifted its position in shares of Caesars Entertainment by 53.0% during the 4th quarter. Sterling Capital Management LLC now owns 12,547 shares of the company's stock worth $419,000 after buying an additional 4,347 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $71,000. Guggenheim Capital LLC raised its position in Caesars Entertainment by 44.5% in the 4th quarter. Guggenheim Capital LLC now owns 19,626 shares of the company's stock valued at $656,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in Caesars Entertainment by 10.6% in the 4th quarter. Gabelli Funds LLC now owns 161,700 shares of the company's stock valued at $5,404,000 after purchasing an additional 15,500 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Trading Up 0.7%

Shares of CZR stock traded up $0.1850 on Tuesday, reaching $25.8650. 977,663 shares of the stock were exchanged, compared to its average volume of 5,545,041. The stock has a market cap of $5.38 billion, a PE ratio of -28.13 and a beta of 2.40. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a 50 day moving average price of $27.97 and a 200 day moving average price of $28.76.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The firm had revenue of $2.91 billion for 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 was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) EPS. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley cut their price objective on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Susquehanna cut their price objective on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. JMP Securities cut their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 30th. Cfra reiterated a "hold" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, The Goldman Sachs Group assumed coverage on Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Company 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.