Caesars Entertainment, Inc. $CZR Stock Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 90.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,591 shares of the company’s stock after acquiring an additional 35,976 shares during the period. Maryland State Retirement & Pension System’s holdings in Caesars Entertainment were worth $2,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CZR. BlackRock Inc. purchased a new stake in shares of Caesars Entertainment during the second quarter worth $830,001,000. Pentwater Capital Management LP acquired a new stake in shares of Caesars Entertainment in the second quarter valued at $346,014,000. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 5.8% in the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after purchasing an additional 355,760 shares during the period. Bank of America Corp DE purchased a new position in Caesars Entertainment in the second quarter valued at $96,169,000. Finally, Bamco Inc. NY purchased a new position in Caesars Entertainment in the second quarter valued at $49,624,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

CZR has been the subject of several analyst reports. Susquehanna reissued a “neutral” rating on shares of Caesars Entertainment in a research note on Monday, October 26th. TD Cowen downgraded 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. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, November 2nd. Capital One Financial cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised Caesars Entertainment from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $30.54.

Insider Transactions at Caesars Entertainment

In related news, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Tomick sold 7,142 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total transaction of $212,188.82. Following the transaction, the director owned 17,769 shares of the company’s stock, valued at approximately $527,916.99. The trade was a 28.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 263,175 shares of company stock valued at $7,796,855. Insiders own 1.18% of the company’s stock.

Caesars Entertainment Stock Up 0.2%

NASDAQ CZR traded up $0.05 on Friday, hitting $29.33. 1,435,594 shares of the stock were exchanged, compared to its average volume of 5,883,596. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 7.15. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The company has a market cap of $5.98 billion, a PE ratio of -11.19 and a beta of 1.90. The company has a 50-day moving average price of $29.38 and a 200-day moving average price of $27.90.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). Caesars Entertainment had a negative net margin of 4.55% and a negative return on equity of 9.83%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -1.28 EPS for the current fiscal year.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc. is a gaming and hospitality company that operates casinos, hotels and resorts across the United States. Its properties offer casino gaming, hotel accommodations, restaurants, live entertainment and other leisure amenities. The company also provides online sports betting and iGaming through brands including Caesars Sportsbook and Caesars Palace Online Casino, subject to the regulations in the markets where they operate. The present-day company was formed in 2020, when Eldorado Resorts acquired Caesars Entertainment and adopted the Caesars name.