Caesars Entertainment (NASDAQ:CZR) Issues Quarterly Earnings Results

Caesars Entertainment (NASDAQ:CZR) posted its earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35), FiscalAI reports. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion.

Caesars Entertainment Stock Down 0.1%

NASDAQ:CZR traded down $0.02 during midday trading on Tuesday, reaching $29.95. 2,063,655 shares of the stock traded hands, compared to its average volume of 6,036,671. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $30.88. The business has a 50-day moving average of $29.48 and a two-hundred day moving average of $26.54. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a market capitalization of $6.10 billion, a PE ratio of -12.64 and a beta of 1.76.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock worth $8,609,241 over the last ninety days. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after buying an additional 12,698 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after acquiring an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after acquiring an additional 826,356 shares during the last quarter. Woodline Partners LP grew its stake in shares of Caesars Entertainment by 40.7% during the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after acquiring an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Caesars Entertainment by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after acquiring an additional 3,198 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Capital One Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup boosted their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Citizens Jmp upped their target price on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company lifted their price target on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.00.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.