Arini Captial Management Ltd Takes Position in Caesars Entertainment, Inc. $CZR

Key Points

• Arini Capital Management opened a new position in Caesars Entertainment, buying 1,089,760 shares worth about $25.5 million. The stake now represents 17% of Arini’s portfolio and roughly 0.53% of Caesars.
• Institutional ownership remains high, with several other large investors also adding to CZR, including Morgan Stanley and Norges Bank. The article notes that 91.79% of the stock is owned by institutions.
• Analysts are mixed on the stock: Caesars has a consensus rating of “Hold” and an average target price of $32.53. The company recently missed EPS estimates in its latest quarter, even though revenue came in slightly above expectations.

Arini Captial Management Ltd bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,089,760 shares of the company's stock, valued at approximately $25,489,000. Caesars Entertainment makes up 17.0% of Arini Captial Management Ltd's portfolio, making the stock its 3rd largest position. Arini Captial Management Ltd owned about 0.53% of Caesars Entertainment at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CZR. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Caesars Entertainment by 246,899,900.0% during 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 period. Morgan Stanley lifted its holdings in shares of 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 acquiring an additional 3,910,430 shares during the period. Capital World Investors lifted its holdings in shares of Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the period. Norges Bank bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $76,050,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $65,492,000. 91.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Susquehanna raised Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Citizens Jmp raised their price target on Caesars Entertainment from $34.00 to $35.00 and gave the company a "market outperform" rating in a report on Wednesday, April 29th. 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 report on Tuesday, June 2nd. Finally, Barclays dropped their price target on Caesars Entertainment from $39.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.53.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.21 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a market cap of $5.95 billion, a PE ratio of -12.32 and a beta of 1.77. The company's 50-day moving average is $28.05 and its two-hundred day moving average is $25.34.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted ($0.54) earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following 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 ownership of the stock. 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 worth $8,609,241. Corporate insiders own 1.18% of the company's stock.

Caesars Entertainment Company 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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