Moore Capital Management LP purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the company's stock, valued at approximately $1,509,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CZR. Allworth Financial LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after buying an additional 918 shares during the period. Sunbelt Securities Inc. lifted its position in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after buying an additional 672 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Caesars Entertainment by 87.1% during the fourth 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 boosted its stake in Caesars Entertainment by 59.5% during the first 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.
Insider Transactions at Caesars Entertainment
In related news, Director Michael E. Pegram sold 50,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $29.41, for a total transaction of $1,470,500.00. Following the sale, the director owned 41,697 shares in the company, valued at approximately $1,226,308.77. This trade represents a 54.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm's stock in a transaction dated 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 sale, the insider owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 540,003 shares of company stock worth $15,941,145. Insiders own 1.18% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on CZR shares. Capital One Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Zacks Research downgraded shares of Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Raymond James Financial lowered Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $30.71.
Check Out Our Latest Stock Analysis on CZR
Caesars Entertainment Stock Performance
CZR opened at $29.70 on Tuesday. The firm's 50-day moving average price is $29.88 and its 200-day moving average price is $27.79. The company has a market cap of $6.05 billion, a P/E ratio of -13.03 and a beta of 1.77. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.39) earnings per share. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.
Caesars Entertainment Profile
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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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