Prudent Man Advisors LLC Takes $563,000 Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Prudent Man Advisors LLC acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,272 shares of the company’s stock, valued at approximately $563,000.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in Caesars Entertainment by 9.0% during the fourth quarter. Capital Research Global Investors now owns 17,328,116 shares of the company’s stock worth $1,620,688,000 after purchasing an additional 1,423,925 shares during the last quarter. State Street Corp raised its position in Caesars Entertainment by 4.4% in the fourth quarter. State Street Corp now owns 8,097,433 shares of the company’s stock worth $757,353,000 after acquiring an additional 343,801 shares during the period. Capital International Investors raised its position in Caesars Entertainment by 9.0% in the fourth quarter. Capital International Investors now owns 4,824,281 shares of the company’s stock worth $451,215,000 after acquiring an additional 398,455 shares during the period. Geode Capital Management LLC raised its position in Caesars Entertainment by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 3,930,019 shares of the company’s stock worth $366,610,000 after acquiring an additional 93,847 shares during the period. Finally, Samlyn Capital LLC raised its position in Caesars Entertainment by 8.5% in the fourth quarter. Samlyn Capital LLC now owns 2,183,826 shares of the company’s stock worth $204,254,000 after acquiring an additional 170,583 shares during the period. 94.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Don R. Kornstein acquired 2,500 shares of the business’s stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of $38.10 per share, with a total value of $95,250.00. Following the purchase, the director now owns 34,353 shares of the company’s stock, valued at $1,308,849.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $52.00, for a total value of $140,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Don R. Kornstein acquired 2,500 shares of the business’s stock in a transaction dated Thursday, June 16th. The stock was acquired at an average cost of $38.10 per share, with a total value of $95,250.00. Following the purchase, the director now directly owns 34,353 shares in the company, valued at approximately $1,308,849.30. The disclosure for this purchase can be found here. Corporate insiders own 0.55% of the company’s stock.

Caesars Entertainment Price Performance

CZR stock opened at $47.67 on Friday. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.00 and a quick ratio of 0.99. Caesars Entertainment, Inc. has a one year low of $35.10 and a one year high of $119.81. The stock has a market cap of $10.22 billion, a PE ratio of -6.93 and a beta of 2.79. The firm has a 50 day simple moving average of $43.42 and a two-hundred day simple moving average of $61.76.

Caesars Entertainment (NASDAQ:CZRGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($2.11) EPS for the quarter, topping analysts’ consensus estimates of ($2.15) by $0.04. Caesars Entertainment had a negative net margin of 14.14% and a negative return on equity of 19.99%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned ($2.06) EPS. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, analysts predict that Caesars Entertainment, Inc. will post -1.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CZR has been the topic of several research reports. B. Riley lowered their price objective on shares of Caesars Entertainment from $149.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Caesars Entertainment from $90.00 to $64.00 in a research report on Wednesday. KeyCorp lowered shares of Caesars Entertainment to a “sector weight” rating in a research report on Tuesday, July 19th. Morgan Stanley lowered their price target on shares of Caesars Entertainment from $122.00 to $99.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Susquehanna Bancshares began coverage on shares of Caesars Entertainment in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $32.00 price target on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Caesars Entertainment Company Profile

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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