Rhumbline Advisers Cuts Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Rhumbline Advisers decreased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 1.8% in the second quarter, Holdings Channel reports. The institutional investor owned 354,305 shares of the company’s stock after selling 6,339 shares during the period. Rhumbline Advisers’ holdings in Caesars Entertainment were worth $14,080,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Caesars Entertainment by 25.1% in the fourth quarter. Russell Investments Group Ltd. now owns 53,299 shares of the company’s stock valued at $2,513,000 after purchasing an additional 10,680 shares during the period. Private Advisor Group LLC grew its position in shares of Caesars Entertainment by 12.0% in the fourth quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock valued at $236,000 after purchasing an additional 538 shares during the period. Principal Securities Inc. acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $46,000. AGF Management Ltd. acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $443,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $2,074,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CZR shares. Susquehanna reiterated a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research report on Wednesday, July 31st. JMP Securities boosted their price target on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Raymond James started coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $36.10 on Wednesday. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 10.23 and a beta of 2.96. The company’s 50-day moving average is $36.76 and its two-hundred day moving average is $37.99. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $55.71.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. Analysts forecast that Caesars Entertainment, Inc. will post 0.06 EPS for the current year.

Caesars Entertainment Company 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.