Caesars Entertainment, Inc. $CZR Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Caesars Entertainment stake by 22.8% in the first quarter, purchasing 42,525 additional shares for a total of 228,660 shares valued at approximately $6.04 million.
• Institutional investors own 91.79% of Caesars, while insiders have sold 293,463 shares worth about $8.61 million over the past 90 days.
• Caesars reported quarterly revenue of $2.99 billion, up 3% year over year, but missed earnings expectations with a loss of $0.30 per share. Analysts’ consensus rating is Hold, with an average price target of $30.71.

California State Teachers Retirement System lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,660 shares of the company's stock after buying an additional 42,525 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Caesars Entertainment worth $6,043,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after acquiring an additional 918 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after acquiring an additional 672 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after acquiring an additional 846 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Caesars Entertainment during the fourth quarter worth about $55,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Caesars Entertainment by 159.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,809 shares of the company's stock worth $66,000 after purchasing an additional 1,726 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business'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 value of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by company insiders.

Caesars Entertainment Trading Down 0.1%

NASDAQ CZR opened at $30.10 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a market cap of $6.13 billion, a PE ratio of -13.20 and a beta of 1.77. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The firm's fifty day moving average is $29.72 and its two-hundred day moving average is $26.80.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same period in the previous year, the company posted ($0.39) earnings per share. Caesars Entertainment's quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CZR. Wells Fargo & Company lifted their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 2nd. Stifel Nicolaus downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Monday, June 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Monday, May 18th. TD Cowen lowered 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. Finally, Raymond James Financial cut Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $30.71.

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.

Want to see what other hedge funds are holding CZR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source