NFJ Investment Group LLC Sells 1,882 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

NFJ Investment Group LLC trimmed its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,777 shares of the company’s stock after selling 1,882 shares during the quarter. NFJ Investment Group LLC’s holdings in Caesars Entertainment were worth $1,702,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its position in Caesars Entertainment by 9.8% during the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the last quarter. Assetmark Inc. lifted its holdings in Caesars Entertainment by 8.0% during the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Caesars Entertainment by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock valued at $453,000 after buying an additional 317 shares in the last quarter. GAMMA Investing LLC increased its position in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Fiduciary Family Office LLC increased its position in Caesars Entertainment by 1.7% during the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after purchasing an additional 424 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $38.63 on Thursday. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -23.13 and a beta of 2.89. The company has a fifty day simple moving average of $41.29 and a 200-day simple moving average of $38.47. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

CZR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Macquarie reissued an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Barclays decreased their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.86.

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.