Villere ST Denis J & Co. LLC Lowers Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• Villere ST Denis J & Co. LLC reduced its Caesars Entertainment stake by 9% in the first quarter, selling 87,699 shares and leaving it with 891,693 shares valued at about $23.6 million.
• Caesars reported quarterly EPS of -$0.48, missing analyst estimates, even as revenue of $2.87 billion slightly beat expectations and rose 2.7% year over year.
• Trading and sentiment remain mixed: the stock recently traded near its 52-week high at $29.84, while analysts have an average Hold rating with a consensus price target of $31; several insiders also sold shares recently.

Villere ST Denis J & Co. LLC cut its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 891,693 shares of the company's stock after selling 87,699 shares during the quarter. Caesars Entertainment makes up approximately 2.6% of Villere ST Denis J & Co. LLC's holdings, making the stock its 17th biggest position. Villere ST Denis J & Co. LLC owned about 0.44% of Caesars Entertainment worth $23,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CZR. Caitong International Asset Management Co. Ltd lifted its holdings in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after purchasing an additional 672 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock valued at $37,000 after buying an additional 488 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after buying an additional 846 shares in the last quarter. Finally, Stance Capital LLC bought a new position in Caesars Entertainment in the 3rd quarter worth $43,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded up $0.07 during mid-day trading on Friday, reaching $29.84. The stock had a trading volume of 3,196,529 shares, compared to its average volume of 4,375,054. The business's 50 day moving average price is $28.94 and its 200 day moving average price is $26.07. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.23. The company has a market cap of $6.08 billion, a P/E ratio of -12.59 and a beta of 1.76. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the prior year, the business earned ($0.54) EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the sale, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CZR has been the topic of several research analyst reports. Citigroup boosted their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Wall Street Zen raised Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Jefferies Financial Group upped their price target on Caesars Entertainment from $24.00 to $26.00 and gave the stock a "hold" rating in a research note on Monday, April 6th. Susquehanna raised shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Caesars Entertainment from $26.00 to $31.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Caesars Entertainment has an average rating of "Hold" and an average price target of $31.00.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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