Arini Capital Management Ltd acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,185,542 shares of the company's stock, valued at approximately $35,780,000. Caesars Entertainment accounts for approximately 3.7% of Arini Capital Management Ltd's portfolio, making the stock its 5th biggest holding. Arini Capital Management Ltd owned 0.58% of Caesars Entertainment at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Caesars Entertainment in the 2nd quarter valued at about $830,001,000. State Street Corp grew its position in Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock valued at $214,907,000 after purchasing an additional 61,065 shares in the last quarter. Morgan Stanley grew its position in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock valued at $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Janus Henderson Group PLC increased its stake in 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 buying an additional 355,760 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock worth $115,500,000 after purchasing an additional 4,937,998 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus cut 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 Monday, June 15th. TD Cowen cut Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Texas Capital downgraded Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Finally, Raymond James Financial lowered Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.71.
Read Our Latest Stock Analysis on CZR
Caesars Entertainment Price Performance
CZR opened at $29.66 on Thursday. 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 stock has a market capitalization of $6.04 billion, a P/E ratio of -13.01 and a beta of 1.77. The company's 50 day simple moving average is $29.86 and its 200-day simple moving average is $27.60. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly 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). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm earned ($0.39) earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of Caesars Entertainment stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the transaction, the insider owned 18,263 shares of the company's stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 561,104 shares of company stock worth $16,542,718. Company insiders own 1.18% of the company's stock.
Caesars Entertainment Company Profile
(
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.
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