Healthcare of Ontario Pension Plan Trust Fund Has $105.72 Million Stake in Caesars Entertainment, Inc. $CZR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Caesars Entertainment stake by 19% in the first quarter, selling 938,000 shares. It still held 4 million shares, worth about $105.72 million and representing roughly 1.96% of the company.
• Caesars reported Q1 earnings of -$0.48 per share, wider than the expected -$0.24, though revenue came in slightly ahead at $2.87 billion and rose 2.7% year over year.
• Analyst sentiment remains cautious: Caesars has a Hold consensus rating with an average price target of $31, while several firms recently trimmed or reiterated conservative ratings.

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,000,000 shares of the company's stock after selling 938,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 1.96% of Caesars Entertainment worth $105,720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gamco Investors INC. ET AL raised its position in Caesars Entertainment by 1.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,083,927 shares of the company's stock worth $28,648,000 after purchasing an additional 16,050 shares during the last quarter. Sei Investments Co. boosted its position in Caesars Entertainment by 9.4% in the 1st quarter. Sei Investments Co. now owns 1,141,411 shares of the company's stock valued at $30,168,000 after buying an additional 97,849 shares during the last quarter. Lido Advisors LLC bought a new position in Caesars Entertainment in the 1st quarter valued at $237,000. First Trust Advisors LP increased its stake in shares of Caesars Entertainment by 36.8% in the 1st quarter. First Trust Advisors LP now owns 315,506 shares of the company's stock valued at $8,339,000 after buying an additional 84,854 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Caesars Entertainment by 16,194.2% in the 1st quarter. Bessemer Group Inc. now owns 28,026 shares of the company's stock valued at $740,000 after buying an additional 27,854 shares during the period. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Trading Up 0.1%

NASDAQ CZR opened at $29.94 on Friday. The stock has a 50-day simple moving average of $29.43 and a 200 day simple moving average of $26.47. The company has a market capitalization of $6.10 billion, a PE ratio of -12.63 and a beta of 1.76. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company posted ($0.54) EPS. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Caesars Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Barclays reissued an "equal weight" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 29th. Finally, Susquehanna raised shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $31.00.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction 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 transaction, the insider directly 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. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is currently owned by company insiders.

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.

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