Hollencrest Capital Management Sells 8,854 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Hollencrest Capital Management lessened its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 70.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,670 shares of the company’s stock after selling 8,854 shares during the quarter. Hollencrest Capital Management’s holdings in Caesars Entertainment were worth $123,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CZR. Assetmark Inc. boosted its stake in Caesars Entertainment by 8.0% in the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after purchasing an additional 256 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Caesars Entertainment by 1.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after purchasing an additional 408 shares during the period. Arizona State Retirement System boosted its stake in Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after purchasing an additional 470 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Caesars Entertainment by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 168,516 shares of the company’s stock worth $7,034,000 after purchasing an additional 582 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its stake in Caesars Entertainment by 5.7% in the 4th quarter. Lebenthal Global Advisors LLC now owns 10,890 shares of the company’s stock worth $364,000 after purchasing an additional 587 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial cut their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Macquarie cut their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. JMP Securities cut their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $50.43.

Caesars Entertainment Stock Down 1.9 %

Shares of CZR stock opened at $27.32 on Thursday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The firm’s 50-day moving average is $34.15 and its 200-day moving average is $37.46. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -16.36 and a beta of 2.97. Caesars Entertainment, Inc. has a 52-week low of $26.84 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Caesars Entertainment 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.