Caesars Entertainment, Inc. $CZR Shares Acquired by Janus Henderson Group PLC

Key Points

• Janus Henderson increased its Caesars Entertainment position by 5.8% in the first quarter, acquiring 355,760 shares and bringing its holdings to 6.53 million shares, or about 3.21% of the company. Institutional investors and hedge funds collectively own 91.79% of CZR.
• Wall Street maintains a cautious outlook, with a consensus “Hold” rating and an average price target of $30.71. Recent target prices range from $30 to $31, while most analysts have reiterated neutral or equal-weight ratings.
• Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but missed earnings expectations with a loss of $0.30 per share versus forecast earnings of $0.05. Insiders sold 293,463 shares worth approximately $8.6 million over the past 90 days.

Janus Henderson Group PLC grew its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,529,700 shares of the company's stock after acquiring an additional 355,760 shares during the quarter. Janus Henderson Group PLC owned about 3.21% of Caesars Entertainment worth $172,582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position 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 purchasing an additional 61,065 shares in the last quarter. Morgan Stanley lifted its holdings in Caesars Entertainment by 121.0% in the 4th 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. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Caesars Entertainment by 246,899,900.0% during 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. Assenagon Asset Management S.A. boosted its stake in Caesars Entertainment by 33.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company's stock worth $115,233,000 after purchasing an additional 1,085,516 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth $76,050,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CZR. Citigroup increased their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Zacks Research raised shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 16th. Barclays reiterated an "equal weight" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.71.

Insider Transactions at Caesars Entertainment

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,463 shares of company stock worth $8,609,241 over the last ninety days. 1.18% of the stock is owned by insiders.

Caesars Entertainment Stock Down 0.5%

NASDAQ CZR opened at $29.61 on Friday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. The business's fifty day simple moving average is $29.61 and its 200-day simple moving average is $26.65. The firm has a market cap of $6.03 billion, a PE ratio of -12.99 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the firm posted ($0.39) EPS. The company's revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

About Caesars Entertainment

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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