California Public Employees Retirement System Sells 87,026 Shares of Caesars Entertainment, Inc. $CZR

California Public Employees Retirement System lessened its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 24.0% in the first quarter, Holdings Channel reports. The fund owned 275,762 shares of the company’s stock after selling 87,026 shares during the quarter. California Public Employees Retirement System’s holdings in Caesars Entertainment were worth $7,288,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares during the period. Morgan Stanley lifted its position in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Norges Bank bought a new stake in Caesars Entertainment during the fourth quarter valued at about $76,050,000. MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment in the fourth quarter worth about $65,492,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Caesars Entertainment by 35,370.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock worth $57,645,000 after buying an additional 2,457,570 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of CZR opened at $29.94 on Monday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company has a 50-day moving average of $29.43 and a 200 day moving average of $26.49. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the firm earned ($0.54) earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Citizens Jmp upped their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Caesars Entertainment has an average rating of “Hold” and an average target price of $31.00.

Insider Transactions at Caesars Entertainment

In related news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.

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.