Pitcairn Co. Decreases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Pitcairn Co. lessened its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,094 shares of the company’s stock after selling 449 shares during the period. Pitcairn Co.’s holdings in Caesars Entertainment were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Bogart Wealth LLC grew its holdings in shares of Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 800 shares during the last quarter. Quarry LP purchased a new stake in Caesars Entertainment during the 3rd quarter valued at about $68,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Caesars Entertainment in the fourth quarter valued at about $73,000. Avior Wealth Management LLC raised its stake in shares of Caesars Entertainment by 12,577.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock worth $76,000 after purchasing an additional 2,264 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Caesars Entertainment by 219.6% during the fourth quarter. Jones Financial Companies Lllp now owns 3,410 shares of the company’s stock worth $114,000 after purchasing an additional 2,343 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CZR shares. Barclays reduced their price target 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. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Thursday, March 6th. Truist Financial lowered their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Macquarie reduced their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $23.18 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a market cap of $4.91 billion, a PE ratio of -13.88 and a beta of 2.97. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The firm has a fifty day moving average of $31.83 and a 200 day moving average of $36.12.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping 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 firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.