Caesars Entertainment, Inc. (NASDAQ:CZR) Position Trimmed by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 14.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 22,092 shares of the company’s stock after selling 3,700 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Caesars Entertainment were worth $966,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Perpetual Ltd bought a new stake in Caesars Entertainment during the first quarter worth approximately $386,000. Massmutual Trust Co. FSB ADV boosted its holdings in Caesars Entertainment by 27.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 5,328 shares of the company’s stock worth $233,000 after buying an additional 1,161 shares in the last quarter. Mather Group LLC. bought a new stake in Caesars Entertainment during the first quarter worth approximately $53,000. NBC Securities Inc. boosted its holdings in Caesars Entertainment by 57.9% during the first quarter. NBC Securities Inc. now owns 6,018 shares of the company’s stock worth $263,000 after buying an additional 2,207 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Caesars Entertainment in the 4th quarter worth approximately $442,000. 91.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CZR. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, April 12th. TD Cowen decreased their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. B. Riley began coverage on shares of Caesars Entertainment in a research note on Thursday, May 9th. They issued a “buy” rating and a $70.00 price objective for the company. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Truist Financial cut their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

Insider Activity at Caesars Entertainment

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the sale, the director now owns 350 shares of the company’s stock, valued at $11,382. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael E. Pegram purchased 40,000 shares of Caesars Entertainment stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $32.52, for a total transaction of $325,200.00. Following the completion of the transaction, the director now owns 350 shares in the company, valued at $11,382. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $39.48 on Friday. The firm’s 50-day moving average is $36.35 and its 200-day moving average is $41.10. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $60.27. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 11.06 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. Equities research analysts anticipate that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

About Caesars Entertainment

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.