Northern Trust Corp Sells 25,333 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Northern Trust Corp has reduced its stake in Caesars Entertainment by 1.4%, now holding approximately 1.74 million shares valued at $43.6 million.
• Several other large investors, including Raymond James Financial Inc. and Caitong International Asset Management, have increased their holdings in Caesars Entertainment during the same period.
• Caesars Entertainment reported a quarterly loss of ($0.39) earnings per share, missing the consensus estimate, although revenues increased to $2.91 billion.

Northern Trust Corp reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,744,914 shares of the company's stock after selling 25,333 shares during the period. Northern Trust Corp owned approximately 0.84% of Caesars Entertainment worth $43,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CZR. Mather Group LLC. lifted 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 worth $26,000 after purchasing an additional 405 shares during the last quarter. Allworth Financial LP lifted its holdings in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after purchasing an additional 662 shares during the last quarter. Bogart Wealth LLC raised its holdings in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after acquiring an additional 700 shares in the last quarter. Resona Asset Management Co. Ltd. raised its holdings in Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after acquiring an additional 477 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Caesars Entertainment by 99.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock valued at $79,000 after acquiring an additional 1,572 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. Morgan Stanley dropped their price objective on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Macquarie dropped their price objective on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, JMP Securities dropped their price objective on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded down $0.48 during trading on Monday, reaching $26.77. 5,572,627 shares of the company's stock were exchanged, compared to its average volume of 5,998,612. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a market cap of $5.57 billion, a P/E ratio of -29.10 and a beta of 2.24. The firm's 50-day moving average price is $27.79 and its 200 day moving average price is $28.14.

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

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.