Sei Investments Co. Boosts Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• Sei Investments increased its Caesars Entertainment stake by 9.4% in the first quarter, adding 97,849 shares to hold 1.14 million shares worth approximately $30.2 million. Institutional investors collectively own 91.79% of the company.
• Insiders sold 293,463 Caesars shares valued at approximately $8.6 million over the past quarter, including significant sales by Director Michael Pegram and insider Edmund Quatmann Jr.
• Analyst sentiment remains cautious, with three Buy ratings, 15 Holds, and one Sell; the consensus rating is Hold with a $31 price target. Caesars shares opened at $29.97, while the company’s latest quarterly EPS loss of $0.48 missed estimates despite revenue rising 2.7% year over year.

Sei Investments Co. increased its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,141,411 shares of the company's stock after purchasing an additional 97,849 shares during the quarter. Sei Investments Co. owned approximately 0.56% of Caesars Entertainment worth $30,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ruffer LLP bought a new stake in Caesars Entertainment in the fourth quarter valued at $2,820,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Caesars Entertainment by 246,899,900.0% in the 4th 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 in the last quarter. MUFG Securities EMEA plc bought a new position in Caesars Entertainment in the 4th quarter worth $65,492,000. 1492 Capital Management LLC purchased a new stake in shares of Caesars Entertainment in the 1st quarter worth about $1,020,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Caesars Entertainment in the 1st quarter worth about $2,392,000. Institutional investors own 91.79% of the company's stock.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram sold 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction on 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 transaction, the insider owned 18,263 shares of the company's stock, valued at $536,019.05. The trade was a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 293,463 shares of company stock valued at $8,609,241 over the last quarter. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CZR shares. Barclays reiterated an "equal weight" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Raymond James Financial cut Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Susquehanna upgraded Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Wall Street Zen raised Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Finally, Capital One Financial cut Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of "Hold" and an average price target of $31.00.

Caesars Entertainment Trading Up 0.1%

Shares of NASDAQ CZR opened at $29.97 on Tuesday. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88. The stock has a market cap of $6.10 billion, a P/E ratio of -12.65 and a beta of 1.76. The firm has a 50-day moving average of $29.48 and a 200 day moving average of $26.54. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the company posted ($0.54) EPS. Caesars Entertainment's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

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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