Louisiana State Employees Retirement System Increases Stock Holdings in Caesars Entertainment, Inc. $CZR

Louisiana State Employees Retirement System raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 769.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 95,600 shares of the company’s stock after acquiring an additional 84,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Caesars Entertainment were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Caesars Entertainment during the 2nd quarter worth approximately $592,000. Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 103.5% in the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock worth $4,719,000 after acquiring an additional 84,545 shares in the last quarter. Amundi increased its position in shares of Caesars Entertainment by 82.1% during the second quarter. Amundi now owns 2,025,951 shares of the company’s stock worth $60,049,000 after acquiring an additional 913,275 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of Caesars Entertainment by 14.7% during the second quarter. Pekin Hardy Strauss Inc. now owns 214,889 shares of the company’s stock worth $6,101,000 after acquiring an additional 27,596 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Caesars Entertainment in the second quarter valued at $331,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $24.63 on Friday. The stock’s 50-day simple moving average is $22.58 and its 200-day simple moving average is $24.91. The firm has a market capitalization of $5.03 billion, a PE ratio of -21.42, a price-to-earnings-growth ratio of 5.13 and a beta of 2.03. Caesars Entertainment, Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $40.00. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CZR has been the subject of several analyst reports. Zacks Research cut Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Truist Financial decreased their price objective on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Susquehanna raised Caesars Entertainment from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $25.00 to $31.00 in a research report on Thursday. JMP Securities reduced their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.56.

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.