Caesars Entertainment, Inc. (NASDAQ:CZR) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,207,554 shares of the company's stock after selling 70,402 shares during the period. Principal Financial Group Inc. owned about 0.57% of Caesars Entertainment worth $30,189,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FIL Ltd purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $28,000. Mather Group LLC. lifted its stake 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 acquiring an additional 405 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Caesars Entertainment during the 4th quarter valued at about $44,000. Canada Pension Plan Investment Board grew its position in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after acquiring an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Caesars Entertainment in the 4th quarter valued at about $71,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded down $0.91 on Friday, hitting $30.60. The company had a trading volume of 912,484 shares, compared to its average volume of 4,971,932. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. The business has a 50 day moving average of $28.23 and a 200 day moving average of $29.98. The company has a market cap of $6.36 billion, a PE ratio of -28.03, a PEG ratio of 18.47 and a beta of 2.29.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The business 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 posted ($0.73) earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CZR shares. JPMorgan Chase & Co. initiated coverage on Caesars Entertainment in a research report on Monday, June 23rd. They issued an "overweight" rating and a $47.00 target price for the company. Barclays boosted their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Stifel Nicolaus decreased their target price on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Capital One Financial upgraded Caesars Entertainment from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. Finally, JMP Securities restated a "market outperform" rating and set a $45.00 target price on shares of Caesars Entertainment in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of "Moderate Buy" and an average price target 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.