Xponance Inc. Sells 3,691 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Xponance Inc. decreased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,675 shares of the company’s stock after selling 3,691 shares during the period. Xponance Inc.’s holdings in Caesars Entertainment were worth $1,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CZR. CWM LLC lifted its position in Caesars Entertainment by 30.6% during the third quarter. CWM LLC now owns 7,718 shares of the company’s stock valued at $358,000 after purchasing an additional 1,810 shares during the period. DnB Asset Management AS lifted its position in Caesars Entertainment by 12.9% during the third quarter. DnB Asset Management AS now owns 29,438 shares of the company’s stock valued at $1,364,000 after purchasing an additional 3,355 shares during the period. Meridian Wealth Management LLC lifted its position in Caesars Entertainment by 22.5% during the third quarter. Meridian Wealth Management LLC now owns 15,617 shares of the company’s stock valued at $724,000 after purchasing an additional 2,871 shares during the period. Czech National Bank lifted its position in Caesars Entertainment by 47.6% during the third quarter. Czech National Bank now owns 37,628 shares of the company’s stock valued at $1,744,000 after purchasing an additional 12,142 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Caesars Entertainment by 7.2% during the third quarter. Asset Management One Co. Ltd. now owns 86,041 shares of the company’s stock valued at $3,988,000 after purchasing an additional 5,750 shares during the period. Institutional investors own 91.79% of the company’s stock.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction 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 directly owns 4,612 shares in the company, valued at approximately $191,167.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CZR shares. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Morgan Stanley raised their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 9th. Susquehanna decreased their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Finally, Barclays dropped their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.36.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $39.12 on Wednesday. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 10.78 and a beta of 2.81. The firm has a fifty day moving average price of $41.56 and a 200 day moving average price of $43.51. Caesars Entertainment, Inc. has a fifty-two week low of $37.71 and a fifty-two week high of $60.27. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post 1.07 earnings per share for the current fiscal year.

Caesars Entertainment 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.