Hsbc Holdings PLC Takes $30.97 Million Position in Caesars Entertainment, Inc. $CZR

Key Points

• HSBC Holdings acquired 1.03 million Caesars Entertainment shares worth approximately $30.97 million, giving it a 0.51% stake. Institutional investors collectively own 91.79% of the company.
• Caesars’ stock opened at $29.64, near its 52-week high of $30.88, but the company reported a quarterly loss of $0.30 per share, missing estimates, despite revenue of $2.99 billion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $30.71 target price; insiders also sold approximately $16.54 million of shares over the past three months.

Hsbc Holdings PLC acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,033,740 shares of the company's stock, valued at approximately $30,967,000. Hsbc Holdings PLC owned approximately 0.51% of Caesars Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Caesars Entertainment in the 2nd quarter valued at $830,001,000. Healthcare of Ontario Pension Plan Trust Fund increased 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 worth $115,500,000 after purchasing an additional 4,937,998 shares during the period. Morgan Stanley raised its position in shares of Caesars Entertainment by 121.0% in the fourth 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 in the last quarter. Norges Bank bought a new stake in Caesars Entertainment during the fourth quarter valued at $76,050,000. Finally, MUFG Securities EMEA plc bought a new stake in Caesars Entertainment during the fourth quarter valued at $65,492,000. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Down 0.1%

CZR opened at $29.64 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. The business's fifty day simple moving average is $29.86 and its 200 day simple moving average is $27.66. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The stock has a market cap of $6.04 billion, a PE ratio of -13.00 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) earnings per share. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CZR. Deutsche Bank Aktiengesellschaft restated 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Stifel Nicolaus lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Monday, June 15th. Barclays restated an "equal weight" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Finally, Capital One Financial downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Caesars Entertainment has an average rating of "Hold" and a consensus target price of $30.71.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider 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 SEC filing for this sale provides additional information. Insiders sold 561,104 shares of company stock worth $16,542,718 in the last three months. Corporate insiders own 1.18% of the company's stock.

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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