Principal Financial Group Inc. Trims Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Principal Financial Group Inc. trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,207,554 shares of the company's stock after selling 70,402 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of Caesars Entertainment worth $30,189,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mather Group LLC. lifted its holdings in shares of Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after purchasing an additional 405 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Caesars Entertainment by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company's stock valued at $1,287,000 after purchasing an additional 408 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Caesars Entertainment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company's stock valued at $2,098,000 after purchasing an additional 470 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Caesars Entertainment by 6.1% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company's stock valued at $291,000 after purchasing an additional 500 shares during the last quarter. Finally, Contrarian Capital Management L.L.C. raised its holdings in Caesars Entertainment by 0.4% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company's stock worth $3,944,000 after acquiring an additional 500 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Price Performance

CZR stock traded up $0.85 during mid-day trading on Thursday, hitting $30.44. The company had a trading volume of 2,059,608 shares, compared to its average volume of 4,960,296. The company has a 50-day moving average price of $28.14 and a 200 day moving average price of $29.99. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 5.84. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -27.86, a P/E/G ratio of 18.71 and a beta of 2.29. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 2.08% and a negative return on equity of 2.60%. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter last year, the company earned ($0.73) earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a report on Monday. They issued a "buy" rating and a $36.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Caesars Entertainment in a research report on Monday, June 23rd. They issued an "overweight" rating and a $47.00 target price for the company. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Barclays boosted their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Susquehanna boosted their price objective on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment has an average rating of "Moderate Buy" and an average target price of $42.50.

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.