JPMorgan Chase & Co. Sells 73,989 Shares of Caesars Entertainment Corporation (NASDAQ:CZR)

JPMorgan Chase & Co. cut its stake in Caesars Entertainment Corporation (NASDAQ:CZR) by 54.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,737 shares of the company’s stock after selling 73,989 shares during the period. JPMorgan Chase & Co.’s holdings in Caesars Entertainment Corporation were worth $580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in Caesars Entertainment Corporation by 7.3% in the fourth quarter. State Street Corp now owns 1,186,329 shares of the company’s stock worth $10,083,000 after buying an additional 80,663 shares during the period. Norges Bank purchased a new stake in Caesars Entertainment Corporation during the fourth quarter worth approximately $2,428,000. Cohen Capital Management Inc. purchased a new stake in Caesars Entertainment Corporation during the first quarter worth approximately $2,697,000. Parametric Portfolio Associates LLC boosted its stake in Caesars Entertainment Corporation by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 256,230 shares of the company’s stock worth $2,447,000 after buying an additional 16,014 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Caesars Entertainment Corporation by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 251,600 shares of the company’s stock worth $2,402,000 after buying an additional 7,589 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of Caesars Entertainment Corporation (NASDAQ:CZR) remained flat at $12.05 during midday trading on Tuesday. 1,525,416 shares of the stock were exchanged. Caesars Entertainment Corporation has a 12 month low of $5.39 and a 12 month high of $13.45. The company’s 50-day moving average price is $12.45 and its 200-day moving average price is $10.62. The firm’s market cap is $1.79 billion.

Caesars Entertainment Corporation (NASDAQ:CZR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.47. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $2.11 billion. On average, equities research analysts forecast that Caesars Entertainment Corporation will post ($0.27) earnings per share for the current year.

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A number of research firms recently commented on CZR. ValuEngine cut shares of Caesars Entertainment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Caesars Entertainment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub cut Caesars Entertainment Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Wolfe Research assumed coverage on Caesars Entertainment Corporation in a report on Friday, July 21st. They set an “outperform” rating and a $16.00 target price for the company. Finally, Imperial Capital assumed coverage on Caesars Entertainment Corporation in a report on Wednesday, July 19th. They set an “outperform” rating and a $15.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.90.

Caesars Entertainment Corporation Company Profile

Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s facilities include gaming offerings, food and beverage outlets, hotel and convention space, and non-gaming entertainment options.