62,882 Caesars Entertainment, Inc. $CZR Shares Acquired by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors increased its Caesars Entertainment stake by 1,402.7%, purchasing 62,882 additional shares to hold 67,365 shares valued at approximately $2.0 million. Institutional investors collectively own 91.79% of the company.
• Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but posted an adjusted loss of $0.30 per share versus expectations for earnings of $0.05. Analysts expect a full-year loss of $0.95 per share.
• The stock opened at $28.80, while analysts maintain a consensus “Hold” rating with an average price target of $30.71; insiders sold 322,682 shares worth about $9.6 million over the past three months.

Nisa Investment Advisors LLC boosted its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 1,402.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,365 shares of the company's stock after buying an additional 62,882 shares during the period. Nisa Investment Advisors LLC's holdings in Caesars Entertainment were worth $1,997,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in shares of Caesars Entertainment in the 2nd quarter worth approximately $25,000. Versant Capital Management Inc increased its stake in shares of Caesars Entertainment by 272.8% during the third quarter. Versant Capital Management Inc now owns 932 shares of the company's stock valued at $28,000 after acquiring an additional 682 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Caesars Entertainment by 310.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company's stock valued at $32,000 after acquiring an additional 811 shares during the period. Gilpin Wealth Management LLC increased its stake in shares of Caesars Entertainment by 3,497.0% during the third quarter. Gilpin Wealth Management LLC now owns 1,187 shares of the company's stock valued at $35,000 after acquiring an additional 1,154 shares during the period. Finally, Ancora Advisors LLC bought a new stake in Caesars Entertainment during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $28.80 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The company's 50 day simple moving average is $29.54 and its 200 day simple moving average is $29.12. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88. The company has a market capitalization of $5.87 billion, a P/E ratio of -12.63 and a beta of 1.85.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). The business had revenue of $2.99 billion for 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%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) earnings per share. Equities research analysts expect that Caesars Entertainment, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Blackhurst Janis L. Jones sold 33,899 shares of the firm's stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bret Yunker sold 208,134 shares of Caesars Entertainment stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 322,682 shares of company stock worth $9,565,403 over the last three months. Corporate insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Barclays reaffirmed an "equal weight" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. TD Cowen cut Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research report on Wednesday, July 29th. Capital One Financial lowered Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $30.71.

About Caesars Entertainment

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company that operates casino resorts and related businesses primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other leisure amenities.

The company operates well-known destinations in Las Vegas, including Caesars Palace, Paris Las Vegas, Planet Hollywood Resort & Casino, and The Cromwell, as well as regional casinos and resorts across several U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.