Nisa Investment Advisors LLC Reduces Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Nisa Investment Advisors LLC lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,265 shares of the company’s stock after selling 1,694 shares during the period. Nisa Investment Advisors LLC’s holdings in Caesars Entertainment were worth $1,184,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. boosted its holdings in Caesars Entertainment by 26.4% in the 3rd quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after purchasing an additional 9,270 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Caesars Entertainment by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after purchasing an additional 77,595 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Caesars Entertainment in the 3rd quarter valued at about $2,259,000. Assenagon Asset Management S.A. boosted its holdings in Caesars Entertainment by 1,029.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock valued at $11,998,000 after purchasing an additional 233,271 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Caesars Entertainment in the 3rd quarter valued at about $3,692,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Activity

In other news, Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the acquisition, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Caesars Entertainment from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of Caesars Entertainment in a report on Wednesday, February 21st. Susquehanna decreased their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Morgan Stanley upped their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $40.22 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. Caesars Entertainment, Inc. has a 52 week low of $38.33 and a 52 week high of $60.27. The stock has a market capitalization of $8.70 billion, a PE ratio of 11.08 and a beta of 2.81. The firm has a 50 day moving average of $42.17 and a two-hundred day moving average of $43.79.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the business earned ($0.11) EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts predict that Caesars Entertainment, Inc. will post 1.14 EPS for the current fiscal 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.