Caesars Entertainment, Inc. (NASDAQ:CZR) Stake Lowered by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,842 shares of the company’s stock after selling 5,247 shares during the period. Exchange Traded Concepts LLC’s holdings in Caesars Entertainment were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares during the last quarter. UMB Bank n.a. acquired a new position in Caesars Entertainment in the 3rd quarter valued at $51,000. Mather Group LLC. bought a new position in Caesars Entertainment in the 1st quarter worth $53,000. GAMMA Investing LLC lifted its position in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Caesars Entertainment by 77.0% during the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after acquiring an additional 1,105 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $45.53 on Tuesday. The business has a 50 day simple moving average of $38.98 and a 200 day simple moving average of $37.99. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The company has a market capitalization of $9.85 billion, a PE ratio of 12.90 and a beta of 2.97. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Stifel Nicolaus upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group lowered their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Susquehanna restated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $54.54.

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.