Royal Bank of Canada Reduces Position in Caesars Entertainment, Inc. $CZR

Royal Bank of Canada trimmed its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 13.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 915,440 shares of the company’s stock after selling 143,618 shares during the period. Royal Bank of Canada owned 0.45% of Caesars Entertainment worth $24,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CZR. Pictet Asset Management Holding SA increased its holdings in shares of Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after purchasing an additional 363 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after purchasing an additional 493 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after purchasing an additional 549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Caesars Entertainment by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock valued at $959,000 after buying an additional 562 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Ratings Changes

CZR has been the subject of a number of recent research reports. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Barclays reissued an “equal weight” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, TD Cowen lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and an average target price of $30.71.

Caesars Entertainment Trading Down 0.1%

Shares of NASDAQ:CZR opened at $30.10 on Thursday. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a market capitalization of $6.13 billion, a PE ratio of -13.20 and a beta of 1.77. The business has a 50 day moving average of $29.72 and a two-hundred day moving average of $26.80. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. As a group, analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.