Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 10.9% in the third quarter, Holdings Channel.com reports. The fund owned 10,623 shares of the company’s stock after selling 1,295 shares during the quarter. Meridian Wealth Management LLC’s holdings in Caesars Entertainment were worth $443,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CZR. EdgePoint Investment Group Inc. lifted its stake in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after purchasing an additional 60,184 shares during the period. Nut Tree Capital Management LP lifted its position in shares of Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after acquiring an additional 1,700,000 shares during the period. Helikon Investments Ltd boosted its stake in shares of Caesars Entertainment by 67.1% during the 3rd quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after acquiring an additional 637,303 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Caesars Entertainment by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after acquiring an additional 59,170 shares during the period. Finally, SG Americas Securities LLC increased its stake in Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CZR has been the topic of several research reports. Susquehanna reissued a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Morgan Stanley raised their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Price Performance

CZR stock opened at $37.60 on Monday. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of -22.51 and a beta of 2.96. 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, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51. The stock’s fifty day simple moving average is $41.63 and its 200-day simple moving average is $38.35.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results 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 return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Equities research analysts expect that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Caesars Entertainment Company Profile

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.