Swiss National Bank Sells 13,800 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• The Swiss National Bank reduced its stake in Caesars Entertainment by 3.2%, now owning 411,700 shares worth $10,292,000 after selling 13,800 shares.
• Vanguard Group and other institutional investors increased their holdings in Caesars Entertainment, with Vanguard acquiring an additional 183,963 shares during the first quarter.
• Caesars Entertainment reported a loss of ($0.39) EPS for the last quarter, missing the consensus estimate, while achieving revenue of $2.91 billion, up 2.7% year-over-year.

Swiss National Bank reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 411,700 shares of the company's stock after selling 13,800 shares during the period. Swiss National Bank owned approximately 0.20% of Caesars Entertainment worth $10,292,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in shares of Caesars Entertainment by 5.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 131,835 shares of the company's stock valued at $4,406,000 after purchasing an additional 6,779 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Caesars Entertainment by 53.0% in the fourth quarter. Sterling Capital Management LLC now owns 12,547 shares of the company's stock valued at $419,000 after purchasing an additional 4,347 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $71,000. Guggenheim Capital LLC raised its holdings in shares of Caesars Entertainment by 44.5% in the fourth quarter. Guggenheim Capital LLC now owns 19,626 shares of the company's stock valued at $656,000 after purchasing an additional 6,047 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Caesars Entertainment by 10.6% in the fourth quarter. Gabelli Funds LLC now owns 161,700 shares of the company's stock valued at $5,404,000 after purchasing an additional 15,500 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CZR shares. Susquehanna lowered their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Stifel Nicolaus raised their target price on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Cfra reissued a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Barclays decreased their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has an average rating of "Moderate Buy" and an average target price of $42.47.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded down $0.22 on Thursday, hitting $25.00. The company had a trading volume of 4,986,743 shares, compared to its average volume of 6,807,073. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of -27.17 and a beta of 2.40. The stock has a 50 day moving average price of $27.81 and a 200 day moving average price of $28.64. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its 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). The business 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 previous year, the firm posted ($0.56) EPS. Analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.