Caesars Entertainment, Inc. $CZR Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Caesars Entertainment stake by 36.8% in the first quarter, adding 84,854 shares to own 315,506 shares valued at approximately $8.34 million. Institutional investors collectively own 91.79% of the company.
• Insiders have been selling shares, including executives Edmund L. Quatmann Jr. and Michael E. Pegram. Insiders sold 293,463 shares worth roughly $8.61 million over the past 90 days.
• Analysts maintain a largely cautious view, with a consensus “Hold” rating and an average price target of $30.71. Caesars recently reported a quarterly loss of $0.30 per share, missing estimates, despite revenue of $2.99 billion that rose 3% year over year.

First Trust Advisors LP boosted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,506 shares of the company's stock after buying an additional 84,854 shares during the period. First Trust Advisors LP owned 0.15% of Caesars Entertainment worth $8,339,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. lifted its position in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after purchasing an additional 918 shares in the last quarter. CoreCap Advisors LLC raised its stake in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock valued at $37,000 after purchasing an additional 488 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after purchasing an additional 846 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in Caesars Entertainment in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Insider Activity

In related news, Director Michael E. Pegram sold 16,897 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Susquehanna raised shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Wells Fargo & Company raised their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. restated a "neutral" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment presently has a consensus rating of "Hold" and an average price target of $30.71.

Caesars Entertainment Stock Up 0.5%

Shares of NASDAQ:CZR opened at $29.75 on Friday. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The stock has a market cap of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.76. The business has a fifty day moving average of $29.63 and a two-hundred day moving average of $26.68. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The firm's revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) EPS. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.75 earnings per share for the current year.

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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