TD Asset Management Inc Has $936,000 Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Key Points

• TD Asset Management Inc has reduced its stake in Caesars Entertainment by 58%, holding 37,430 shares worth $936,000 after selling 51,589 shares in the first quarter.
• Despite TD's reduction, other institutional investors, such as Wellington Management Group, have increased their stakes, showcasing a mixed sentiment among major stakeholders.
• Caesars Entertainment reported a loss of ($0.39) EPS for the last quarter, missing estimates, despite a revenue increase to $2.91 billion, demonstrating ongoing challenges in profitability.

TD Asset Management Inc decreased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 58.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,430 shares of the company's stock after selling 51,589 shares during the quarter. TD Asset Management Inc's holdings in Caesars Entertainment were worth $936,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cannell Capital LLC bought a new stake in shares of Caesars Entertainment during the fourth quarter worth approximately $13,498,000. Russell Investments Group Ltd. raised its position in shares of Caesars Entertainment by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock valued at $26,840,000 after acquiring an additional 38,505 shares during the period. Khrom Capital Management LLC bought a new position in Caesars Entertainment during the 4th quarter worth approximately $16,191,000. DAVENPORT & Co LLC grew its holdings in Caesars Entertainment by 1,051.1% during 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 during the period. Finally, Allspring Global Investments Holdings LLC increased its stake 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 valued at $261,000 after purchasing an additional 1,360 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CZR has been the subject of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. Susquehanna lowered their price target on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Morgan Stanley cut their price objective on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday. Barclays lowered their target price on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.47.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded down $0.06 on Friday, hitting $24.09. The stock had a trading volume of 3,675,627 shares, compared to its average volume of 5,542,431. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -26.18 and a beta of 2.40. 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, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The business's 50 day moving average is $28.14 and its two-hundred day moving average is $29.33.

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

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.