California Public Employees Retirement System reduced its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,762 shares of the company's stock after selling 87,026 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Caesars Entertainment worth $7,288,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock valued at $214,907,000 after purchasing an additional 61,065 shares during the last quarter. Morgan Stanley boosted its stake in shares of Caesars Entertainment by 121.0% in the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock worth $167,049,000 after buying an additional 3,910,430 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Caesars Entertainment by 246,899,900.0% in 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 in the last quarter. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $115,233,000 after purchasing an additional 1,085,516 shares during the last quarter. Finally, Norges Bank bought a new stake in Caesars Entertainment in the fourth quarter worth about $76,050,000. Institutional investors own 91.79% of the company's stock.
Insider Transactions at Caesars Entertainment
In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business'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 sale, the insider owned 18,263 shares of the company's stock, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Pegram sold 55,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Capital One Financial downgraded Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Citigroup increased their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Barclays reissued an "equal weight" rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Susquehanna raised Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of "Hold" and an average price target of $31.00.
Get Our Latest Stock Analysis on Caesars Entertainment
Caesars Entertainment Price Performance
Shares of Caesars Entertainment stock opened at $29.94 on Monday. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The company's fifty day simple moving average is $29.43 and its two-hundred day simple moving average is $26.49. The company has a market cap of $6.10 billion, a P/E ratio of -12.63 and a beta of 1.76.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) earnings per share. Research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.
About Caesars Entertainment
(
Free Report)
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.
Further Reading
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