Carmignac Gestion bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,508 shares of the company’s stock, valued at approximately $3,033,000.
Several other hedge funds also recently made changes to their positions in CZR. Hsbc Holdings PLC bought a new position in Caesars Entertainment in the 2nd quarter worth about $30,967,000. Jefferies Financial Group Inc. bought a new stake in shares of Caesars Entertainment during the second quarter valued at about $1,110,000. Man Group plc purchased a new stake in shares of Caesars Entertainment in the second quarter worth about $32,953,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 worth $115,500,000 after buying an additional 4,937,998 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $65,492,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. TD Cowen lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Wednesday, July 29th. Wells Fargo & Company raised 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. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.71.
Insider Transactions at Caesars Entertainment
In related news, CMO Josh Jones sold 59,507 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The transaction 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 that occurred on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 393,237 shares of company stock worth $11,637,046. 1.18% of the stock is currently owned by company insiders.
Caesars Entertainment Price Performance
Shares of NASDAQ:CZR traded down $0.02 during trading on Tuesday, reaching $29.66. The company had a trading volume of 1,823,239 shares, compared to its average volume of 5,615,037. The company has a fifty day moving average of $29.86 and a two-hundred day moving average of $28.17. The stock has a market capitalization of $6.04 billion, a P/E ratio of -13.01 and a beta of 1.75. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.
Caesars Entertainment Company 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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