Hsbc Holdings PLC Has $14.72 Million Stake in Caesars Entertainment, Inc. $CZR

Key Points

• HSBC Holdings PLC sharply reduced its Caesars Entertainment stake by 64.2% in the fourth quarter, selling more than 1.1 million shares and leaving it with 624,542 shares valued at about $14.7 million.
• Caesars recently reported quarterly earnings of -$0.48 per share, missing analyst expectations, though revenue of $2.87 billion slightly topped estimates and rose 2.7% year over year.
• Insider selling has been notable, with directors and executives unloading shares in recent months, while analysts currently rate the stock a Hold on average with a consensus price target of $32.53.

Hsbc Holdings PLC cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 64.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 624,542 shares of the company's stock after selling 1,121,665 shares during the period. Hsbc Holdings PLC owned approximately 0.31% of Caesars Entertainment worth $14,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CZR. AQR Capital Management LLC lifted its holdings in shares of Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company's stock valued at $953,000 after purchasing an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Caesars Entertainment by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company's stock worth $496,000 after buying an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Caesars Entertainment by 106.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company's stock valued at $39,982,000 after buying an additional 826,356 shares during the last quarter. Woodline Partners LP raised its position in Caesars Entertainment by 40.7% in the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company's stock valued at $449,000 after buying an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company's stock valued at $12,665,000 after purchasing an additional 3,198 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $30.35 on Wednesday. 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 firm's fifty day moving average price is $28.80 and its two-hundred day moving average price is $25.96. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The firm has a market capitalization of $6.18 billion, a P/E ratio of -12.81 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the company'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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares of the company's stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 293,463 shares of company stock worth $8,609,241. Company insiders own 1.18% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CZR shares. Wall Street Zen upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. 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. Wells Fargo & Company boosted 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 report on Tuesday, June 2nd. Citigroup raised their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Finally, Truist Financial downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and lowered their target price for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.53.

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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