Tortoise Investment Management LLC reduced its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 91.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,411 shares of the company’s stock after selling 44,500 shares during the quarter. Tortoise Investment Management LLC’s holdings in Caesars Entertainment were worth $38,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Cohen Capital Management Inc. increased its position in shares of Caesars Entertainment by 0.6% in the fourth quarter. Cohen Capital Management Inc. now owns 431,137 shares of the company’s stock valued at $2,927,000 after buying an additional 2,380 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Caesars Entertainment in the first quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Caesars Entertainment by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,676 shares of the company’s stock valued at $269,000 after buying an additional 3,087 shares in the last quarter. United Services Automobile Association increased its position in shares of Caesars Entertainment by 4.2% in the fourth quarter. United Services Automobile Association now owns 92,702 shares of the company’s stock valued at $629,000 after buying an additional 3,766 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Caesars Entertainment by 20.1% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 25,100 shares of the company’s stock valued at $170,000 after buying an additional 4,200 shares in the last quarter.
A number of brokerages have recently issued reports on CZR. Deutsche Bank reaffirmed a “buy” rating and issued a $11.00 price target on shares of Caesars Entertainment in a research note on Sunday, May 5th. Zacks Investment Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 24th. BidaskClub raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. ValuEngine raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, UBS Group lifted their price target on Caesars Entertainment from $7.00 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.06.
NASDAQ CZR traded down $0.22 on Friday, reaching $9.03. 12,304,582 shares of the company were exchanged, compared to its average volume of 16,482,054. The firm has a market capitalization of $6.22 billion, a P/E ratio of -47.53 and a beta of 1.21. The company has a debt-to-equity ratio of 6.02, a quick ratio of 1.10 and a current ratio of 1.12. Caesars Entertainment Co. has a fifty-two week low of $5.84 and a fifty-two week high of $13.05.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.13). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.08 billion. Caesars Entertainment had a negative return on equity of 9.84% and a net margin of 1.41%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. As a group, sell-side analysts forecast that Caesars Entertainment Co. will post -0.39 EPS for the current year.
In other Caesars Entertainment news, VP Les Ottolenghi sold 17,240 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.74, for a total transaction of $150,677.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 97,460 shares of company stock worth $840,337 in the last three months. 0.92% of the stock is currently owned by corporate insiders.
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Caesars Entertainment Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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