Alberta Investment Management Corp Takes Position in Caesars Entertainment, Inc. $CZR

Alberta Investment Management Corp acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 353,916 shares of the company's stock, valued at approximately $10,681,000. Alberta Investment Management Corp owned 0.17% of Caesars Entertainment as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after acquiring an additional 61,065 shares during the period. Morgan Stanley boosted its stake in shares of Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock worth $167,049,000 after buying an additional 3,910,430 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Caesars Entertainment by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock valued at $172,582,000 after acquiring an additional 355,760 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock valued at $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Caesars Entertainment by 33.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company's stock worth $115,233,000 after acquiring an additional 1,085,516 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CZR shares. Wells Fargo & Company raised their price target on Caesars Entertainment from $26.00 to $31.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 2nd. Raymond James Financial cut Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Truist Financial downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and lowered their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Caesars Entertainment currently has a consensus rating of "Hold" and a consensus price target of $30.71.

Caesars Entertainment Stock Performance

CZR stock opened at $29.75 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company's 50-day simple moving average is $29.82 and its 200 day simple moving average is $27.11. The company has a market capitalization of $6.06 billion, a PE ratio of -13.05 and a beta of 1.77.

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

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the transaction, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 293,463 shares of company stock valued at $8,609,241. Company 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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