DLD Asset Management LP purchased 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 & Exchange Commission. The fund purchased 169,500 shares of the company’s stock, valued at approximately $5,116,000.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Caesars Entertainment in the 2nd quarter valued at about $830,001,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Caesars Entertainment by 246,899,900.0% during 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 buying an additional 4,937,998 shares during the last quarter. Morgan Stanley grew its stake in Caesars Entertainment by 121.0% during the 4th 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 last quarter. Norges Bank acquired a new position in Caesars Entertainment during the fourth quarter worth approximately $76,050,000. Finally, MUFG Securities EMEA plc acquired a new position in Caesars Entertainment during the fourth quarter worth approximately $65,492,000. Institutional investors and hedge funds own 91.79% of the company’s stock.
Insiders Place Their Bets
In other news, CMO Josh Jones sold 59,507 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction that occurred 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 completion of the sale, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 561,104 shares of company stock worth $16,542,718. Company insiders own 1.18% of the company’s stock.
Caesars Entertainment Price Performance
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last posted its quarterly earnings results 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). 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 company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) earnings per share. As a group, analysts expect that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Citizens Jmp raised their price objective on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $31.00 in a report on Friday, May 29th. Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Caesars Entertainment has an average rating of “Hold” and an average target price of $30.71.
Read Our Latest Stock Analysis on CZR
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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