Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by Highland Peak Capital LLC

Highland Peak Capital LLC lowered its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 36.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,655 shares of the company’s stock after selling 101,605 shares during the quarter. Caesars Entertainment makes up approximately 5.4% of Highland Peak Capital LLC’s holdings, making the stock its 9th largest position. Highland Peak Capital LLC owned approximately 0.08% of Caesars Entertainment worth $8,422,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CZR. Teacher Retirement System of Texas raised its stake in Caesars Entertainment by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,673 shares of the company’s stock valued at $773,000 after acquiring an additional 404 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Caesars Entertainment by 14.7% in the 3rd quarter. Wealthfront Advisers LLC now owns 5,540 shares of the company’s stock worth $257,000 after buying an additional 711 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Caesars Entertainment by 6.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 17,870 shares of the company’s stock worth $828,000 after buying an additional 1,091 shares in the last quarter. M&T Bank Corp raised its stake in shares of Caesars Entertainment by 5.1% in the 3rd quarter. M&T Bank Corp now owns 10,649 shares of the company’s stock worth $494,000 after buying an additional 519 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Caesars Entertainment by 24.7% in the 3rd quarter. California Public Employees Retirement System now owns 373,236 shares of the company’s stock worth $17,299,000 after buying an additional 74,036 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram purchased 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the purchase, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Pegram acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the purchase, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. B. Riley assumed coverage on Caesars Entertainment in a report on Thursday, May 9th. They set a “buy” rating and a $70.00 price target on the stock. TD Cowen lowered their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Truist Financial lowered their price target on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, JMP Securities lowered their price target on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $55.07.

Caesars Entertainment Price Performance

Shares of CZR stock traded up $1.10 during trading hours on Friday, hitting $33.63. The company had a trading volume of 5,159,381 shares, compared to its average volume of 3,499,695. Caesars Entertainment, Inc. has a 12 month low of $32.51 and a 12 month high of $60.27. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 9.22 and a beta of 2.83. The firm’s fifty day moving average is $38.98 and its 200 day moving average is $42.57. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal 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.