Caesars Entertainment, Inc. $CZR Stock: Maryland State Retirement & Pension System Boosts Position

Maryland State Retirement & Pension System grew its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 90.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,591 shares of the company’s stock after purchasing an additional 35,976 shares during the period. Maryland State Retirement & Pension System’s holdings in Caesars Entertainment were worth $2,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Caesars Entertainment by 272.8% during the 3rd quarter. Versant Capital Management Inc now owns 932 shares of the company’s stock worth $28,000 after purchasing an additional 682 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after buying an additional 702 shares during the period. Parkside Financial Bank & Trust raised its holdings in Caesars Entertainment by 310.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after buying an additional 811 shares during the period. Allworth Financial LP acquired a new position in Caesars Entertainment in the second quarter valued at about $25,000. Finally, GAMMA Investing LLC lifted its position in Caesars Entertainment by 11.2% in the second quarter. GAMMA Investing LLC now owns 8,417 shares of the company’s stock valued at $254,000 after buying an additional 848 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 0.2%

Shares of NASDAQ CZR traded up $0.05 during trading on Friday, reaching $29.33. The stock had a trading volume of 1,435,594 shares, compared to its average volume of 5,883,596. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The company has a debt-to-equity ratio of 7.15, a quick ratio of 0.80 and a current ratio of 0.82. The business’s 50-day moving average price is $29.38 and its 200-day moving average price is $27.90. The company has a market cap of $5.98 billion, a P/E ratio of -11.19 and a beta of 1.90.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.49). Caesars Entertainment had a negative net margin of 4.55% and a negative return on equity of 9.83%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm posted ($0.27) EPS. Caesars Entertainment’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director David Tomick sold 7,142 shares of Caesars Entertainment stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total value of $212,188.82. Following the completion of the transaction, the director directly owned 17,769 shares of the company’s stock, valued at $527,916.99. The trade was a 28.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The SEC filing for this sale provides additional information. Insiders sold 263,175 shares of company stock worth $7,796,855 in the last three months. 1.18% of the stock is owned by company insiders.

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.