abrdn plc Decreases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

abrdn plc trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 85.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,395 shares of the company's stock after selling 96,328 shares during the quarter. abrdn plc's holdings in Caesars Entertainment were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company's stock worth $26,000 after buying an additional 499 shares during the period. UMB Bank n.a. acquired a new stake in Caesars Entertainment during the 3rd quarter worth $51,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 622 shares during the last quarter. Signaturefd LLC boosted its position in shares of Caesars Entertainment by 77.0% in the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company's stock worth $101,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Caesars Entertainment during the second quarter worth $147,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CZR shares. Wells Fargo & Company reduced their price target on Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price target on Caesars Entertainment from $62.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Finally, Macquarie restated an "outperform" rating and issued a $50.00 price objective on shares of Caesars Entertainment in a report on Wednesday, October 30th. One 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 stock. According to MarketBeat, Caesars Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Caesars Entertainment Price Performance

NASDAQ CZR traded down $1.03 on Tuesday, hitting $38.62. The company had a trading volume of 3,269,339 shares, compared to its average volume of 4,168,785. 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 market capitalization of $8.21 billion, a PE ratio of -23.74 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's fifty day moving average price is $41.14 and its 200-day moving average price is $38.18.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share 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 business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business's revenue was down 4.0% compared to the same quarter last year. As a group, analysts predict that Caesars Entertainment, Inc. will post -0.44 earnings per share for the current year.

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.