Covestor Ltd Sells 5,258 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Covestor Ltd lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 64.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,903 shares of the company’s stock after selling 5,258 shares during the quarter. Covestor Ltd’s holdings in Caesars Entertainment were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atria Investments Inc increased its position in shares of Caesars Entertainment by 27.4% during the third quarter. Atria Investments Inc now owns 7,919 shares of the company’s stock valued at $331,000 after buying an additional 1,703 shares during the period. Assetmark Inc. boosted its position in Caesars Entertainment by 8.0% during the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after acquiring an additional 256 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Caesars Entertainment by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after acquiring an additional 59,170 shares during the period. Fiduciary Family Office LLC raised its position in shares of Caesars Entertainment by 1.7% in the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock worth $1,052,000 after acquiring an additional 424 shares in the last quarter. Finally, Innealta Capital LLC lifted its stake in shares of Caesars Entertainment by 23,029.2% in the 3rd quarter. Innealta Capital LLC now owns 5,551 shares of the company’s stock valued at $232,000 after purchasing an additional 5,527 shares during the period. Institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CZR shares. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Barclays lowered their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $40.22 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The business has a 50-day moving average price of $41.42 and a 200-day moving average price of $38.24. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of -24.08 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal 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.