1492 Capital Management LLC purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,599 shares of the company's stock, valued at approximately $1,020,000.
Other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of Caesars Entertainment by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company's stock valued at $76,589,000 after purchasing an additional 2,490,924 shares during the last quarter. Capital World Investors increased its position in shares of Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. SG Americas Securities LLC raised its holdings in Caesars Entertainment by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company's stock valued at $25,677,000 after buying an additional 419,617 shares during the period. HighVista Strategies LLC purchased a new stake in Caesars Entertainment during the 3rd quarter valued at $1,162,000. Finally, Aquatic Capital Management LLC lifted its position in Caesars Entertainment by 710.0% in the third quarter. Aquatic Capital Management LLC now owns 571,631 shares of the company's stock worth $15,448,000 after buying an additional 501,055 shares during the last quarter. Institutional investors own 91.79% of the company's stock.
Insiders Place Their Bets
In related news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares of the company's stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 293,463 shares of company stock worth $8,609,241 in the last three months. Corporate insiders own 1.18% of the company's stock.
Caesars Entertainment Stock Performance
Caesars Entertainment stock opened at $30.19 on Friday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a market capitalization of $6.15 billion, a PE ratio of -12.74 and a beta of 1.77. The company has a 50 day moving average price of $28.45 and a 200-day moving average price of $25.64. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.58.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned ($0.54) EPS. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Texas Capital cut shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 1st. Jefferies Financial Group raised their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Monday, April 6th. Raymond James Financial cut shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Finally, Truist Financial lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.53.
Read Our Latest Report 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.
See Also
Want to see what other hedge funds are holding CZR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report).
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