Voya Investment Management LLC Sells 22,102 Shares of Caesars Entertainment, Inc. $CZR

by · The Markets Daily

Voya Investment Management LLC lessened its stake in Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) by 38.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 35,404 shares of the company’s stock after selling 22,102 shares during the quarter. Voya Investment Management LLC’s holdings in Caesars Entertainment were worth $957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CZR. Y Intercept Hong Kong Ltd bought a new position in Caesars Entertainment during the 2nd quarter worth $592,000. Assenagon Asset Management S.A. lifted its stake in shares of Caesars Entertainment by 103.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock valued at $4,719,000 after buying an additional 84,545 shares in the last quarter. HG Vora Capital Management LLC grew its position in shares of Caesars Entertainment by 73.3% during the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after purchasing an additional 1,650,000 shares in the last quarter. Amundi lifted its position in Caesars Entertainment by 82.1% in the 2nd quarter. Amundi now owns 2,025,951 shares of the company’s stock worth $60,049,000 after buying an additional 913,275 shares during the last quarter. Finally, Petrus Trust Company LTA bought a new stake in shares of Caesars Entertainment in the first quarter worth about $255,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

CZR opened at $23.52 on Wednesday. The stock has a market capitalization of $4.80 billion, a P/E ratio of -20.45 and a beta of 2.04. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. Caesars Entertainment, Inc. has a one year low of $18.25 and a one year high of $40.00. The company’s 50 day simple moving average is $22.17 and its 200-day simple moving average is $25.08.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CZR. Wells Fargo & Company assumed coverage on Caesars Entertainment in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $24.00 in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Read Our Latest Stock Analysis on CZR

About Caesars Entertainment

(Free Report)

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.

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