Deltec Asset Management LLC Lowers Stock Holdings in Caesars Entertainment, Inc. $CZR

Key Points

• Deltec Asset Management LLC reduced its stake in Caesars Entertainment by 37.1%, resulting in ownership of 67,871 shares valued at approximately $1.93 million at the end of the last quarter.
• Despite the cut in shareholding by Deltec, several other institutional investors such as Mather Group LLC and UMB Bank n.a. increased their positions in Caesars Entertainment by significant percentages in recent quarters.
• Analysts have mixed views on Caesars Entertainment, with price targets ranging from $36.00 to $50.00, reflecting a consensus rating of "Moderate Buy" and a current average target price of $42.33.

Deltec Asset Management LLC trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 37.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,871 shares of the company's stock after selling 40,000 shares during the quarter. Deltec Asset Management LLC's holdings in Caesars Entertainment were worth $1,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CZR. Mather Group LLC. boosted its holdings in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares during the period. UMB Bank n.a. boosted its holdings in Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company's stock valued at $30,000 after acquiring an additional 359 shares during the period. Farther Finance Advisors LLC boosted its holdings in Caesars Entertainment by 168.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company's stock valued at $32,000 after acquiring an additional 711 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company's stock valued at $33,000 after purchasing an additional 478 shares in the last quarter. Finally, Allworth Financial LP raised its position in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after purchasing an additional 662 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 price target on the stock. Macquarie reduced their price target 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. Cfra reaffirmed a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, JMP Securities reduced their price target on Caesars Entertainment from $43.00 to $41.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $42.33.

Caesars Entertainment Trading Down 3.0%

Shares of CZR stock opened at $27.02 on Wednesday. The business's 50 day moving average is $26.20 and its two-hundred day moving average is $27.14. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The company has a market capitalization of $5.62 billion, a P/E ratio of -29.37 and a beta of 2.24. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the business posted ($0.56) earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast 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.

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