Analysts Set Caesars Entertainment, Inc. (NASDAQ:CZR) Price Target at $32.53

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.00.

Several analysts recently issued reports on CZR shares. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $31.00 in a research note on Friday, May 29th. Raymond James Financial lowered Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Citigroup increased their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Finally, Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st.

Insiders Place Their Bets

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 293,463 shares of company stock worth $8,609,241. Insiders own 1.18% of the company’s stock.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of CZR. AQR Capital Management LLC lifted its stake in shares of Caesars Entertainment by 47.7% in the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after purchasing an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after purchasing an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after buying an additional 826,356 shares during the period. Woodline Partners LP grew its position in shares of Caesars Entertainment by 40.7% in the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after buying an additional 5,192 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Caesars Entertainment by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after acquiring an additional 3,198 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Up 0.2%

NASDAQ:CZR traded up $0.07 during midday trading on Tuesday, reaching $29.84. 3,196,529 shares of the stock traded hands, compared to its average volume of 4,375,054. The stock has a market capitalization of $6.08 billion, a P/E ratio of -12.59 and a beta of 1.76. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a fifty day moving average of $28.94 and a 200 day moving average of $26.07. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $31.23.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. Caesars Entertainment’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.54) EPS. On average, research analysts predict that Caesars Entertainment will post -0.49 EPS for the current year.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.