Wolverine Asset Management LLC Lowers Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Wolverine Asset Management LLC lessened its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 22.9% during the third quarter, Holdings Channel.com reports. The firm owned 45,571 shares of the company’s stock after selling 13,500 shares during the quarter. Wolverine Asset Management LLC’s holdings in Caesars Entertainment were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in shares of Caesars Entertainment during the third quarter valued at $741,000. Atria Investments Inc increased its stake in Caesars Entertainment by 27.4% during the 3rd quarter. Atria Investments Inc now owns 7,919 shares of the company’s stock valued at $331,000 after purchasing an additional 1,703 shares in the last quarter. Assetmark Inc. raised its holdings in Caesars Entertainment by 8.0% in the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after buying an additional 256 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after buying an additional 59,170 shares in the last quarter. Finally, Fiduciary Family Office LLC grew its holdings in shares of Caesars Entertainment by 1.7% during the third quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after buying an additional 424 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CZR. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Jefferies Financial Group reduced their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays lowered their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Trading Down 1.5 %

Shares of CZR stock opened at $40.22 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market cap of $8.55 billion, a price-to-earnings ratio of -24.08 and a beta of 2.96. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. The firm has a fifty day moving average price of $41.42 and a 200-day moving average price of $38.24.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.54 earnings per share for the current 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.