The Manufacturers Life Insurance Company acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,279 shares of the company’s stock, valued at approximately $1,698,000.
Several other large investors also recently modified their holdings of CZR. Allworth Financial LP purchased a new stake in shares of Caesars Entertainment during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after purchasing an additional 918 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of 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 in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.
Caesars Entertainment Stock Performance
CZR stock opened at $29.68 on Friday. The stock’s 50 day simple moving average is $29.87 and its 200 day simple moving average is $28.02. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The firm has a market cap of $6.05 billion, a P/E ratio of -13.02 and a beta of 1.75. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.
Wall Street Analysts Forecast Growth
CZR has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased 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. Capital One Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.71.
Insider Transactions at Caesars Entertainment
In related news, Director Janis Jones Blackhurst sold 33,899 shares of the firm’s stock in a transaction that occurred 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 SEC, which is accessible through the SEC website. Also, Director Michael Pegram sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $29.41, for a total value of $1,470,500.00. Following the transaction, the director owned 41,697 shares of the company’s stock, valued at $1,226,308.77. This represents a 54.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 540,003 shares of company stock valued at $15,941,145 over the last ninety days. Insiders own 1.18% of the company’s stock.
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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