Dimensional Fund Advisors LP Reduces Stock Position in Caesars Entertainment, Inc. $CZR

Dimensional Fund Advisors LP decreased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 4.2% in the 1st quarter, HoldingsChannel reports. The firm owned 1,581,294 shares of the company’s stock after selling 68,741 shares during the period. Dimensional Fund Advisors LP’s holdings in Caesars Entertainment were worth $41,776,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CZR. Caitong International Asset Management Co. Ltd grew its holdings in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying an additional 918 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after buying an additional 846 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Caesars Entertainment during the fourth quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC boosted its position in Caesars Entertainment by 159.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,809 shares of the company’s stock worth $66,000 after acquiring an additional 1,726 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.73 on Tuesday. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a 50 day moving average price of $29.66 and a 200 day moving average price of $26.72. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -13.04 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.39) EPS. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the 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 of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 293,463 shares of company stock valued at $8,609,241. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CZR. TD Cowen cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Wednesday, July 29th. Barclays reissued an “equal weight” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Finally, Capital One Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.71.

Caesars Entertainment Company Profile

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.