Fmr LLC Sells 4,080,455 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

FMR LLC cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 52.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,628,208 shares of the company's stock after selling 4,080,455 shares during the period. FMR LLC owned 1.71% of Caesars Entertainment worth $151,441,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company's stock valued at $26,000 after buying an additional 499 shares in the last quarter. Huntington National Bank boosted its stake in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company's stock valued at $36,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Caesars Entertainment during the third quarter valued at approximately $51,000. GAMMA Investing LLC lifted its position in Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $64,000 after acquiring an additional 622 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Caesars Entertainment by 77.0% in the second 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. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Up 1.2 %

Shares of Caesars Entertainment stock traded up $0.45 on Wednesday, hitting $38.63. 3,042,658 shares of the company's stock traded hands, compared to its average volume of 4,124,632. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a fifty day moving average of $41.33 and a two-hundred day moving average of $38.47. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of -22.86 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CZR shares. JPMorgan Chase & Co. lifted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. JMP Securities reduced their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set a "market outperform" rating on the stock in a research note on Monday, November 25th. Macquarie restated an "outperform" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a report on Wednesday, October 30th. Barclays dropped their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.86.

Caesars Entertainment Company 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.