Caesars Entertainment, Inc. (NASDAQ:CZR) Stock Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,322 shares of the company’s stock after selling 2,949 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Caesars Entertainment were worth $3,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CZR. Blue Trust Inc. lifted its holdings in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after acquiring an additional 499 shares during the last quarter. UMB Bank n.a. bought a new stake in shares of Caesars Entertainment in the 3rd quarter worth approximately $51,000. GAMMA Investing LLC boosted its position in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the period. Signaturefd LLC grew its stake in Caesars Entertainment by 77.0% during the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after buying an additional 1,105 shares during the last quarter. Finally, Assetmark Inc. increased its position 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 period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $39.43 on Wednesday. The stock has a market cap of $8.38 billion, a PE ratio of -23.61 and a beta of 2.96. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The business has a fifty day simple moving average of $41.48 and a 200-day simple moving average of $38.26.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CZR. JMP Securities restated a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.00.

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.