MUFG Securities EMEA plc Acquires New Stake in Caesars Entertainment, Inc. $CZR

Key Points

• MUFG Securities EMEA plc disclosed a new fourth-quarter stake in Caesars Entertainment, buying 2.8 million shares worth about $65.5 million. The position represents roughly 0.8% of MUFG’s holdings and about 1.37% of Caesars.
• Institutional ownership remains very high, with 91.79% of Caesars stock held by hedge funds and other investors. Several other large firms also increased their positions, signaling continued institutional interest.
• Caesars is trading near the center of a major takeover story, as it was reported to be acquired by Fertitta Entertainment for $31 per share in cash. Analysts have largely shifted to neutral or downgraded views, with price targets clustering around the deal price and limited upside remaining.

MUFG Securities EMEA plc acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,800,000 shares of the company's stock, valued at approximately $65,492,000. Caesars Entertainment comprises about 0.8% of MUFG Securities EMEA plc's holdings, making the stock its 24th largest position. MUFG Securities EMEA plc owned approximately 1.37% of Caesars Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ING Groep NV grew its position in Caesars Entertainment by 80.2% in the 3rd quarter. ING Groep NV now owns 599,854 shares of the company's stock valued at $16,211,000 after buying an additional 266,917 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Caesars Entertainment by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company's stock valued at $76,589,000 after buying an additional 2,490,924 shares during the last quarter. Principal Financial Group Inc. grew its position in Caesars Entertainment by 56.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company's stock valued at $45,953,000 after buying an additional 612,837 shares during the last quarter. Capital World Investors grew its position in Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after buying an additional 3,716,148 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC grew its position in Caesars Entertainment by 31.6% in the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,038,870 shares of the company's stock valued at $28,075,000 after buying an additional 249,603 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.05 on Friday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $31.58. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The firm's 50-day simple moving average is $27.32 and its 200 day simple moving average is $24.52. The firm has a market capitalization of $5.92 billion, a PE ratio of -12.26 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results 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 business had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) earnings per share. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -0.5 EPS for the current fiscal year.

Key Stories Impacting Caesars Entertainment

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Caesars agreed to be acquired by Fertitta Entertainment for $31 per share in cash, a major premium that supports the stock and explains the sharp investor interest. Reuters: Caesars Entertainment to be bought by Fertitta Entertainment for $17.6 billion
• Positive Sentiment: The deal could boost broader casino consolidation and signals continued strategic value in Caesars’ assets, which may help sentiment around the company. Proactive Investors: Caesars Entertainment buyout potential catalyst for broader casino consolidation
• Neutral Sentiment: JPMorgan and Susquehanna reaffirmed neutral-style views while trimming price targets to $31, essentially matching the offer price and suggesting limited upside from here. Benzinga analyst updates
• Negative Sentiment: Truist downgraded Caesars from buy to hold, while Raymond James cut the stock to market perform, reflecting reduced upside now that a buyout is in place. Benzinga analyst updates
• Negative Sentiment: Law firms have opened shareholder investigations into whether the $31 per-share deal is fair, which could create some legal overhang. Business Wire: shareholder investigation

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CZR shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Citizens Jmp boosted their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group boosted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a "hold" rating in a research report on Monday, April 6th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $32.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.