1,099,010 Shares in Caesars Entertainment, Inc. $CZR Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1,099,010 Caesars Entertainment shares in the second quarter, worth approximately $33.2 million and representing about 0.54% of the company. Institutional investors and hedge funds collectively own 91.79% of CZR.
• Caesars reported a quarterly loss of $0.30 per share, missing analyst expectations by $0.35, although revenue rose 3.0% year over year to $2.99 billion.
• Analyst sentiment is broadly neutral: 15 analysts rate the stock Hold, compared with two Buy and two Sell ratings, producing an average price target of $30.71 versus a recent price of $29.73. Company insiders have sold 595,003 shares over the past 90 days.

Bank of New York Mellon Corp bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,099,010 shares of the company's stock, valued at approximately $33,168,000. Bank of New York Mellon Corp owned about 0.54% of Caesars Entertainment at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after acquiring an additional 918 shares during the last quarter. Sunbelt Securities Inc. grew its stake in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after purchasing an additional 702 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at approximately $55,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $29.73 on Friday. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88. The firm has a market capitalization of $6.06 billion, a PE ratio of -13.04 and a beta of 1.77. The company's 50 day simple moving average is $29.87 and its 200 day simple moving average is $27.68. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.39) earnings per share. As a group, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CZR. TD Cowen lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Wednesday, July 29th. Capital One Financial cut shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Susquehanna raised Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Finally, Texas Capital cut Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.71.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blackhurst Janis L. Jones sold 33,899 shares of Caesars Entertainment stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 595,003 shares of company stock valued at $17,547,145. Corporate insiders own 1.18% of the company's stock.

Caesars Entertainment Profile

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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