Readystate Asset Management LP Sells 10,249 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Readystate Asset Management LP trimmed its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,141 shares of the company’s stock after selling 10,249 shares during the quarter. Readystate Asset Management LP’s holdings in Caesars Entertainment were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its stake in shares of Caesars Entertainment by 26.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock worth $1,173,000 after acquiring an additional 5,715 shares during the period. GAMMA Investing LLC increased its stake in shares of Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after purchasing an additional 622 shares in the last quarter. DNB Asset Management AS raised its position in shares of Caesars Entertainment by 12.5% in the second quarter. DNB Asset Management AS now owns 33,877 shares of the company’s stock valued at $1,346,000 after purchasing an additional 3,753 shares during the period. QRG Capital Management Inc. grew its stake in Caesars Entertainment by 17.0% in the 2nd quarter. QRG Capital Management Inc. now owns 7,332 shares of the company’s stock valued at $291,000 after buying an additional 1,068 shares in the last quarter. Finally, Czech National Bank raised its holdings in Caesars Entertainment by 8.7% during the 2nd quarter. Czech National Bank now owns 41,240 shares of the company’s stock valued at $1,639,000 after acquiring an additional 3,291 shares during the period. 91.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Barclays cut their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JMP Securities decreased their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given 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 a consensus price target of $53.86.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $38.63 on Thursday. The company has a market capitalization of $8.21 billion, a P/E ratio of -23.13 and a beta of 2.89. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51. The company has a fifty day moving average of $41.29 and a 200-day moving average of $38.47.

Caesars Entertainment (NASDAQ:CZR) last issued 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). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal 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.