State of Alaska Department of Revenue Has $2.83 Million Stake in Caesars Entertainment, Inc. $CZR

State of Alaska Department of Revenue boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 348.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,656 shares of the company’s stock after buying an additional 81,325 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Caesars Entertainment worth $2,828,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lecap Asset Management Ltd. acquired a new stake in shares of Caesars Entertainment during the 3rd quarter valued at about $547,000. SG Americas Securities LLC lifted its stake in Caesars Entertainment by 1,607.7% during the third quarter. SG Americas Securities LLC now owns 678,146 shares of the company’s stock worth $18,327,000 after purchasing an additional 638,435 shares during the period. CX Institutional boosted its holdings in Caesars Entertainment by 69.1% during the third quarter. CX Institutional now owns 7,710 shares of the company’s stock valued at $208,000 after purchasing an additional 3,150 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Caesars Entertainment by 769.1% during the third quarter. Louisiana State Employees Retirement System now owns 95,600 shares of the company’s stock valued at $2,584,000 after purchasing an additional 84,600 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

CZR opened at $24.86 on Wednesday. Caesars Entertainment, Inc. has a one year low of $18.25 and a one year high of $40.00. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. The company’s 50 day simple moving average is $22.76 and its 200-day simple moving average is $24.80. The stock has a market capitalization of $5.07 billion, a P/E ratio of -21.62, a price-to-earnings-growth ratio of 5.03 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on CZR shares. Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a research note on Monday, December 1st. Truist Financial dropped their target price on shares of Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Jefferies Financial Group lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $22.00 in a research report on Tuesday, November 4th. Stifel Nicolaus dropped their price objective on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Wells Fargo & Company began coverage on shares of Caesars Entertainment in a research note on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.56.

About Caesars Entertainment

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.