Caesars Entertainment, Inc. $CZR Shares Sold by Northwestern Mutual Wealth Management Co.

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. cut its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 99.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,122 shares of the company's stock after selling 863,147 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Caesars Entertainment were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Mather Group LLC. boosted its stake in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after buying an additional 405 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Caesars Entertainment by 35.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after buying an additional 477 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Caesars Entertainment by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,207 shares of the company's stock valued at $608,000 after buying an additional 549 shares in the last quarter. American Trust boosted its stake in shares of Caesars Entertainment by 8.7% in the fourth quarter. American Trust now owns 7,505 shares of the company's stock valued at $251,000 after buying an additional 601 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Caesars Entertainment by 97.8% in the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after buying an additional 662 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Up 0.9%

CZR stock traded up $0.24 during trading on Wednesday, reaching $25.63. 5,795,163 shares of the stock traded hands, compared to its average volume of 5,530,129. The business's 50 day moving average price is $27.29 and its 200-day moving average price is $27.59. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week 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 firm has a market capitalization of $5.33 billion, a PE ratio of -27.86 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same period last year, the firm posted ($0.56) EPS. Caesars Entertainment's revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CZR. Stifel Nicolaus lifted their price target on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Truist Financial reduced their price objective on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 price target for the company. JMP Securities cut their price target 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. Finally, Macquarie lowered their price objective on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

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.