Northwestern Mutual Wealth Management Co. Has $228,000 Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• Northwestern Mutual Wealth Management Co. significantly reduced its holdings in Caesars Entertainment by 99.0%, selling 863,147 shares and leaving them with only 9,122 shares valued at approximately $228,000.
• Several institutional investors, including DAVENPORT & Co LLC and Jefferies Financial Group Inc., have significantly increased their stakes in Caesars Entertainment, which reflects a general trend in institutional ownership, with 91.79% of the stock now held by such investors.
• Caesars Entertainment reported earnings of ($0.39) per share, missing analyst expectations, although revenue for the quarter reached $2.91 billion, surpassing projected figures.

Northwestern Mutual Wealth Management Co. decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 99.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,122 shares of the company's stock after selling 863,147 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Caesars Entertainment were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC increased its holdings in shares of Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Caesars Entertainment by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock worth $261,000 after purchasing an additional 1,360 shares during the period. GSA Capital Partners LLP acquired a new position in Caesars Entertainment during the 1st quarter valued at about $540,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Caesars Entertainment during the 1st quarter worth approximately $30,148,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Caesars Entertainment by 19.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,234 shares of the company's stock worth $725,000 after buying an additional 4,684 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Stock Up 2.3%

CZR traded up $0.59 during trading on Friday, hitting $26.34. The company had a trading volume of 6,346,343 shares, compared to its average volume of 5,559,893. The company has a market capitalization of $5.48 billion, a PE ratio of -28.63 and a beta of 2.24. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm's 50-day moving average price is $27.50 and its 200 day moving average price is $27.75. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08.

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

Analysts Set New Price Targets

A number of analysts have commented on CZR shares. The Goldman Sachs Group started coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They set a "buy" rating and a $36.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Susquehanna lowered their target price on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Finally, JMP Securities lowered their target price on shares of 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 research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.47.

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.