Hollencrest Capital Management Has $123,000 Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Hollencrest Capital Management reduced its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 70.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,670 shares of the company’s stock after selling 8,854 shares during the quarter. Hollencrest Capital Management’s holdings in Caesars Entertainment were worth $123,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC grew its position in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 800 shares in the last quarter. Huntington National Bank grew its position in Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after buying an additional 833 shares in the last quarter. Quarry LP acquired a new stake in Caesars Entertainment during the third quarter worth about $68,000. Steward Partners Investment Advisory LLC acquired a new stake in Caesars Entertainment during the fourth quarter worth about $73,000. Finally, Avior Wealth Management LLC grew its position in Caesars Entertainment by 12,577.8% during the fourth quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after buying an additional 2,264 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $27.32 on Thursday. Caesars Entertainment, Inc. has a 1 year low of $26.84 and a 1 year high of $45.93. The firm has a 50 day moving average of $34.15 and a 200-day moving average of $37.46. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $5.79 billion, a P/E ratio of -16.36 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CZR has been the topic of a number of recent research reports. JMP Securities decreased their target price on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial decreased their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays decreased their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Macquarie decreased their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $50.43.

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.