Edgestream Partners L.P. Buys Shares of 84,184 Caesars Entertainment, Inc. $CZR

Key Points

• Edgestream Partners purchased 84,184 shares of Caesars Entertainment valued at approximately $2.23 million. Institutional investors collectively own 91.79% of the company.
• Insider sentiment was negative, with executives and directors selling 293,463 shares worth about $8.61 million over the past 90 days.
• Analysts maintain a consensus “Hold” rating with a $30.71 target price. 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.

Edgestream Partners L.P. bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,184 shares of the company's stock, valued at approximately $2,225,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Caesars Entertainment by 0.8% during the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after acquiring an additional 61,065 shares during the period. Morgan Stanley increased its holdings 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 valued at $167,049,000 after purchasing an additional 3,910,430 shares during the period. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 5.8% in the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock worth $172,582,000 after purchasing an additional 355,760 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Caesars Entertainment by 246,899,900.0% during the fourth 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 period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Caesars Entertainment by 33.2% during the first 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 period. Institutional investors and hedge funds own 91.79% of the company's stock.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm'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 completion of the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Pegram sold 55,000 shares of the business's stock in a transaction 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 SEC filing for this sale provides additional information. Insiders have sold a total of 293,463 shares of company stock valued at $8,609,241 over the last ninety days. 1.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Texas Capital lowered shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set 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 boosted their price objective 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. Finally, Barclays restated an "equal weight" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $29.75 on Monday. The firm's 50-day moving average is $29.63 and its 200-day moving average is $26.69. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -13.05 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its 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 company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the business posted ($0.39) EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate 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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