Meridian Wealth Management LLC Sells 2,207 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Meridian Wealth Management LLC trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 20.8% in the fourth quarter, Holdings Channel reports. The fund owned 8,416 shares of the company’s stock after selling 2,207 shares during the quarter. Meridian Wealth Management LLC’s holdings in Caesars Entertainment were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CZR. US Bancorp DE boosted its holdings in Caesars Entertainment by 87.9% during the third quarter. US Bancorp DE now owns 15,967 shares of the company’s stock valued at $666,000 after acquiring an additional 7,469 shares during the period. Principal Financial Group Inc. raised its position in shares of Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after buying an additional 59,170 shares during the last quarter. Assetmark Inc. raised its position in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares during the last quarter. Atria Investments Inc raised its position in shares of Caesars Entertainment by 27.4% during the third quarter. Atria Investments Inc now owns 7,919 shares of the company’s stock valued at $331,000 after buying an additional 1,703 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Caesars Entertainment in the third quarter worth about $741,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Price Performance

CZR opened at $30.37 on Thursday. Caesars Entertainment, Inc. has a one year low of $29.27 and a one year high of $45.93. 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’s 50 day simple moving average is $34.61 and its 200-day simple moving average is $37.75. The stock has a market capitalization of $6.44 billion, a P/E ratio of -18.19 and a beta of 2.90.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CZR shares. JMP Securities dropped their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Macquarie dropped their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, TD Cowen dropped their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.64.

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.