California State Teachers Retirement System lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) by 22.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,660 shares of the company’s stock after acquiring an additional 42,525 shares during the quarter. California State Teachers Retirement System’s holdings in Caesars Entertainment were worth $6,043,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Caesars Entertainment in the 1st quarter valued at approximately $201,000. The Manufacturers Life Insurance Company raised its stake in shares of Caesars Entertainment by 12.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 45,648 shares of the company’s stock worth $1,206,000 after buying an additional 4,885 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Caesars Entertainment by 9.2% during the 1st quarter. Quantinno Capital Management LP now owns 342,001 shares of the company’s stock worth $9,039,000 after buying an additional 28,952 shares in the last quarter. Whitebox Advisors LLC lifted its holdings in shares of Caesars Entertainment by 8.7% in the 1st quarter. Whitebox Advisors LLC now owns 113,165 shares of the company’s stock valued at $2,991,000 after buying an additional 9,087 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Caesars Entertainment by 1.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,083,927 shares of the company’s stock valued at $28,648,000 after buying an additional 16,050 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Citigroup raised their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and an average price target of $30.71.
Insider Buying and Selling at Caesars Entertainment
In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction dated 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 sale, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This represents a 81.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 293,463 shares of company stock valued at $8,609,241 in the last ninety days. Corporate insiders own 1.18% of the company’s stock.
Caesars Entertainment Stock Performance
NASDAQ CZR opened at $30.10 on Thursday. The business has a 50 day moving average price of $29.72 and a 200 day moving average price of $26.80. The company has a market capitalization of $6.13 billion, a P/E ratio of -13.20 and a beta of 1.77. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.39) earnings per share. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.9 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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