Louisiana State Employees Retirement System Makes New $2.39 Million Investment in Caesars Entertainment, Inc. $CZR

Louisiana State Employees Retirement System purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 90,500 shares of the company’s stock, valued at approximately $2,392,000.

Several other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after acquiring an additional 672 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after purchasing an additional 488 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. Finally, Stance Capital LLC bought a new stake in Caesars Entertainment during the third quarter valued at approximately $43,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CZR shares. Citigroup raised their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Jefferies Financial Group upped their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, April 6th. Finally, Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $32.53.

Caesars Entertainment Stock Down 1.2%

CZR opened at $29.82 on Tuesday. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $31.58. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The business’s 50-day moving average price is $28.49 and its 200-day moving average price is $25.69. The company has a market cap of $6.07 billion, a P/E ratio of -12.58 and a beta of 1.77.

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 the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion for 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%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.54) earnings per share. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This represents a 81.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 293,463 shares of company stock valued at $8,609,241. Insiders own 1.18% of the company’s stock.

Caesars Entertainment Profile

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.