Aberdeen Group plc Sells 1,718 Shares of Caesars Entertainment, Inc. $CZR

Aberdeen Group plc decreased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,068 shares of the company’s stock after selling 1,718 shares during the period. Aberdeen Group plc’s holdings in Caesars Entertainment were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Caesars Entertainment by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company’s stock valued at $588,721,000 after buying an additional 183,963 shares during the period. Invesco Ltd. lifted its holdings in Caesars Entertainment by 22.9% in the first quarter. Invesco Ltd. now owns 6,823,286 shares of the company’s stock valued at $170,582,000 after buying an additional 1,269,911 shares during the period. DAVENPORT & Co LLC lifted its holdings in Caesars Entertainment by 20.1% in the second quarter. DAVENPORT & Co LLC now owns 4,196,893 shares of the company’s stock valued at $120,199,000 after buying an additional 700,978 shares during the period. HG Vora Capital Management LLC lifted its holdings in Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after buying an additional 1,650,000 shares during the period. Finally, Hein Park Capital Management LP acquired a new position in Caesars Entertainment in the first quarter valued at $60,492,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 1.3%

CZR opened at $21.45 on Friday. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.88. The firm has a market capitalization of $4.46 billion, a PE ratio of -23.31 and a beta of 2.38. The company’s 50-day moving average is $25.39 and its 200 day moving average is $26.84.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the company earned ($0.56) EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Morgan Stanley dropped their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Stifel Nicolaus dropped their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays dropped their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, Cfra reiterated a “hold” rating and set a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.13.

About Caesars Entertainment

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.