Caesars Entertainment, Inc. (NASDAQ:CZR) Stake Reduced by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 91.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,962 shares of the company’s stock after selling 54,661 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Caesars Entertainment were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares in the last quarter. Huntington National Bank grew its stake in shares of Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of Caesars Entertainment during the third quarter valued at $51,000. Quarry LP bought a new stake in shares of Caesars Entertainment during the third quarter valued at about $68,000. Finally, GAMMA Investing LLC lifted its holdings in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CZR. Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays lowered their price target on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley upped their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus price target of $53.71.

Caesars Entertainment Price Performance

CZR stock opened at $37.01 on Monday. Caesars Entertainment, Inc. has a one year low of $31.74 and a one year high of $50.51. The firm has a 50-day moving average of $40.58 and a two-hundred day moving average of $38.68. The firm has a market capitalization of $7.86 billion, a PE ratio of -22.16 and a beta of 2.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the company posted $0.34 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.56 earnings per share 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.