The Manufacturers Life Insurance Company bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 56,279 shares of the company's stock, valued at approximately $1,698,000.
Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Caesars Entertainment during the 2nd quarter worth $830,001,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake 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 last quarter. Morgan Stanley lifted its position 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 buying an additional 3,910,430 shares during the period. Norges Bank purchased a new position in Caesars Entertainment during the fourth quarter worth about $76,050,000. Finally, MUFG Securities EMEA plc acquired a new stake in Caesars Entertainment in the 4th quarter worth about $65,492,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Caesars Entertainment
In related news, Director Janis Jones Blackhurst sold 33,899 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total value of $1,004,427.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bret Yunker sold 208,134 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 540,003 shares of company stock worth $15,941,145 in the last quarter. 1.18% of the stock is owned by corporate insiders.
Caesars Entertainment Trading Down 0.0%
NASDAQ CZR opened at $29.68 on Friday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.02 and a beta of 1.75. 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. The company's 50 day moving average price is $29.87 and its 200 day moving average price is $28.02.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Caesars Entertainment's quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.
Wall Street Analyst Weigh In
CZR has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Caesars Entertainment in a report on Thursday, August 13th. Truist Financial lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and cut their price objective for the stock from $32.00 to $31.00 in a report on Friday, May 29th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Finally, Barclays reaffirmed 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. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.71.
Get Our Latest Stock Analysis on Caesars Entertainment
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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