56,005 Caesars Entertainment, Inc. $CZR Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 21.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 319,962 shares of the company’s stock after acquiring an additional 56,005 shares during the quarter. New York Life Investment Management LLC’s holdings in Caesars Entertainment were worth $9,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. Allworth Financial LP acquired a new position in shares of Caesars Entertainment during the 2nd quarter worth about $25,000. Versant Capital Management Inc grew its holdings in shares of Caesars Entertainment by 272.8% in the 3rd quarter. Versant Capital Management Inc now owns 932 shares of the company’s stock valued at $28,000 after acquiring an additional 682 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Caesars Entertainment by 310.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after acquiring an additional 811 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Caesars Entertainment in the third quarter valued at about $33,000. Finally, Gilpin Wealth Management LLC increased its position in shares of Caesars Entertainment by 3,497.0% in the third quarter. Gilpin Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $35,000 after acquiring an additional 1,154 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David Tomick sold 7,142 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $29.71, for a total value of $212,188.82. Following the completion of the sale, the director directly owned 17,769 shares in the company, valued at approximately $527,916.99. This trade represents a 28.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 322,682 shares of company stock valued at $9,565,403. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded Caesars Entertainment from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, November 2nd. Capital One Financial lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 29th. Finally, Susquehanna reiterated a “neutral” rating on shares of Caesars Entertainment in a research note on Monday, October 26th. One research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $30.54.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $29.28 on Thursday. The stock has a market cap of $5.97 billion, a P/E ratio of -11.18 and a beta of 1.90. The company has a debt-to-equity ratio of 7.15, a current ratio of 0.82 and a quick ratio of 0.80. The company has a fifty day moving average price of $29.39 and a two-hundred day moving average price of $27.83. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.96 billion. Caesars Entertainment had a negative net margin of 4.55% and a negative return on equity of 9.83%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned ($0.27) EPS. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -1.28 EPS for the current year.

Caesars Entertainment Profile

Caesars Entertainment, Inc. is a gaming and hospitality company that operates casinos, hotels and resorts across the United States. Its properties offer casino gaming, hotel accommodations, restaurants, live entertainment and other leisure amenities. The company also provides online sports betting and iGaming through brands including Caesars Sportsbook and Caesars Palace Online Casino, subject to the regulations in the markets where they operate. The present-day company was formed in 2020, when Eldorado Resorts acquired Caesars Entertainment and adopted the Caesars name.