Mirae Asset Global Investments Co. Ltd. Decreases Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 23,818 shares of the company’s stock after selling 1,484 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Caesars Entertainment were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. boosted its stake in Caesars Entertainment by 10.6% in the third quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after acquiring an additional 261 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Caesars Entertainment by 0.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock worth $1,625,000 after buying an additional 285 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Caesars Entertainment by 4.0% during the third quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock worth $354,000 after buying an additional 295 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Caesars Entertainment by 13.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock valued at $148,000 after buying an additional 376 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Caesars Entertainment by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 16,673 shares of the company’s stock valued at $773,000 after acquiring an additional 404 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael E. Pegram purchased 15,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the transaction, the director now owns 4,612 shares in the company, valued at $191,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CZR. Wells Fargo & Company cut their target price on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Susquehanna lowered their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. JMP Securities reduced their price objective on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.73.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $38.42 on Tuesday. Caesars Entertainment, Inc. has a fifty-two week low of $37.71 and a fifty-two week high of $60.27. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 10.58 and a beta of 2.81. The stock has a fifty day moving average of $41.63 and a two-hundred day moving average of $43.55. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts anticipate that Caesars Entertainment, Inc. will post 1.07 EPS for the current fiscal 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.