Legal & General Group Plc acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 450,848 shares of the company's stock, valued at approximately $13,607,000. Legal & General Group Plc owned 0.22% of Caesars Entertainment at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in Caesars Entertainment in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after purchasing an additional 918 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock worth $42,000 after buying an additional 846 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after buying an additional 702 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Stifel Nicolaus cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Monday, June 15th. Wells Fargo & Company upped 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. 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 note on Monday, June 1st. Barclays reissued 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. Finally, Truist Financial downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and cut their price target for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $30.71.
View Our Latest Analysis on CZR
Insider Buying and Selling
In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 595,003 shares of company stock valued at $17,547,145 over the last three months. 1.18% of the stock is currently owned by insiders.
Caesars Entertainment Stock Performance
Shares of NASDAQ:CZR opened at $29.73 on Monday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company's 50 day moving average is $29.87 and its two-hundred day moving average is $27.73. The company has a market cap of $6.06 billion, a PE ratio of -13.04 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted ($0.39) EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.
About Caesars Entertainment
(
Free Report)
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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