Quantbot Technologies LP Invests $3.83 Million in Caesars Entertainment, Inc. $CZR

Key Points

• Quantbot Technologies LP acquired 127,000 Caesars Entertainment shares worth approximately $3.83 million, while institutional investors and hedge funds collectively own 91.79% of the stock.
• Analyst sentiment remains cautious: Caesars has a consensus “Hold” rating and an average price target of $30.71, with several firms recently lowering ratings or targets.
• Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but posted an adjusted loss of $0.30 per share versus expectations for $0.05 earnings; shares recently opened at $29.76.

Quantbot Technologies LP purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 127,000 shares of the company's stock, valued at approximately $3,833,000. Quantbot Technologies LP owned 0.06% of Caesars Entertainment at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Caesars Entertainment during the 2nd quarter worth $830,001,000. State Street Corp increased its stake in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after acquiring an additional 61,065 shares during the period. Morgan Stanley raised 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 worth $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Janus Henderson Group PLC lifted its position in Caesars Entertainment by 5.8% in the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock valued at $172,582,000 after purchasing an additional 355,760 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in 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 valued at $115,500,000 after purchasing an additional 4,937,998 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CZR. JPMorgan Chase & Co. restated a "neutral" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Truist Financial cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Citizens Jmp upped 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. Finally, TD Cowen cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a report on Wednesday, July 29th. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.71.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $29.76 on Monday. The business's fifty day moving average price is $29.84 and its two-hundred day moving average price is $27.41. The stock has a market cap of $6.06 billion, a PE ratio of -13.05 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly 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 return on equity of 7.64% and a negative net margin of 3.99%.The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the firm earned ($0.39) earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael E. Pegram sold 16,897 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were 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. In the last 90 days, insiders have sold 561,104 shares of company stock worth $16,542,718. 1.18% of the stock is owned by company insiders.

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.

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