Caesars Entertainment, Inc. $CZR Shares Purchased by Amundi

Key Points

• Amundi significantly increased its Caesars Entertainment stake by 205.1% in the first quarter, purchasing 1.07 million additional shares and bringing its holdings to 1.59 million shares worth about $42 million. Institutional investors collectively own 91.79% of the company.
• Insiders have been selling shares: executives and directors sold 293,463 shares worth approximately $8.6 million over the past 90 days, while corporate insiders own just 1.18% of the stock.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and a $30.71 average price target. Caesars recently missed quarterly EPS estimates, reporting a $0.30 loss per share despite revenue of $2.99 billion.

Amundi boosted its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 205.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,587,634 shares of the company's stock after purchasing an additional 1,067,259 shares during the quarter. Amundi owned about 0.78% of Caesars Entertainment worth $41,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CZR. Sunbelt Securities Inc. raised 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 buying an additional 672 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in 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 acquiring an additional 918 shares during the last quarter. CoreCap Advisors LLC grew its stake in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock valued at $37,000 after acquiring an additional 488 shares in the last quarter. Hantz Financial Services Inc. raised its holdings 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 acquiring an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock worth $8,609,241 in the last ninety days. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 2nd. TD Cowen lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 29th. Citigroup upped their target price on Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Stifel Nicolaus downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Monday, June 15th. Finally, Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $29.75 on Monday. 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 company has a market capitalization of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.77. The stock's fifty day moving average is $29.63 and its two-hundred day moving average is $26.69.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released 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). The business 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 business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Equities analysts expect that Caesars Entertainment, Inc. will post -0.75 EPS 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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