Hsbc Holdings PLC Purchases 977,185 Shares of Caesars Entertainment, Inc. $CZR

Hsbc Holdings PLC lifted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 1,727.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,033,740 shares of the company's stock after buying an additional 977,185 shares during the period. Hsbc Holdings PLC owned approximately 0.51% of Caesars Entertainment worth $30,967,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in Caesars Entertainment during the second quarter worth $830,001,000. Pentwater Capital Management LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter worth about $346,014,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Caesars Entertainment by 246,899,900.0% during the 4th 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 during the period. Morgan Stanley grew its holdings in Caesars Entertainment by 121.0% during the fourth 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. Finally, Norges Bank bought a new position in shares of Caesars Entertainment during the 4th quarter worth $76,050,000. 91.79% of the stock is owned by institutional investors.

Insider Activity at Caesars Entertainment

In related news, Director Blackhurst Janis L. Jones sold 33,899 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $29.63, for a total value of $1,004,427.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Pegram sold 50,000 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $29.41, for a total transaction of $1,470,500.00. Following the completion of the transaction, the director owned 41,697 shares of the company's stock, valued at $1,226,308.77. This trade represents a 54.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 393,237 shares of company stock worth $11,637,046 over the last quarter. 1.18% of the stock is currently owned by corporate insiders.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $29.68 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average of $29.86 and a 200-day moving average of $28.17. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.02 and a beta of 1.75. 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 announced its 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). 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 analysts' expectations of $2.98 billion. During the same period in the prior year, the business earned ($0.39) earnings per share. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CZR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Wells Fargo & Company raised their price target on Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Capital One Financial lowered Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial cut Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.71.

About Caesars Entertainment

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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