State of Michigan Retirement System Has $1.93 Million Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

State of Michigan Retirement System reduced its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,697 shares of the company’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Caesars Entertainment were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 18.7% during the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after buying an additional 1,983,151 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after acquiring an additional 1,697,443 shares during the last quarter. Bamco Inc. NY acquired a new position in Caesars Entertainment during the third quarter valued at approximately $61,890,000. Principal Financial Group Inc. increased its stake in Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after purchasing an additional 59,170 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Caesars Entertainment in the fourth quarter worth $35,797,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 1.5 %

Caesars Entertainment stock opened at $28.48 on Friday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -17.05 and a beta of 2.97. The firm has a 50-day moving average of $34.37 and a 200-day moving average of $37.59. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a one year low of $26.92 and a one year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays lowered their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a research report on Thursday. JMP Securities dropped their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $50.43.

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.