The Manufacturers Life Insurance Company held the position in Caesars Entertainment, Inc. in the third quarter. (NASDAQ: CZR – Get Ratings ) raised its position by 11.4%, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,006 shares of the company’s stock after purchasing an additional 16,689 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Caesars Entertainment worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other large investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Caesars Entertainment by 6.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,298 shares of the company’s stock worth $797,000 after acquiring an additional 666 shares during the period. American Century Companies Inc increased its stake in shares of Kaiser Entertainment by 10.8% in the 1st quarter. American Century Companies Inc. now owns 9,416 shares of the company’s stock valued at $728,000 after acquiring an additional 914 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of Caesars Entertainment in the 1st quarter valued at $268,000. PNC Financial Services Group Inc. boosted its holdings in shares of Caesars Entertainment by 32.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,526 shares of the company’s stock valued at $351,000 after acquiring an additional 1,119 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Caesars Entertainment by 2.4% in the first quarter. Panagora Asset Management Inc. Now owns 9,874 shares of the company’s stock valued at $764,000 after acquiring an additional 236 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.
Analyst rating changes
CZR has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Caesars Entertainment from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Susquehanna reduced their price target on Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating for the company in a research note on Monday, October 3rd. Barclays boosted their price objective on Caesars Entertainment from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 24th. Truist Financial decreased their price objective on Caesars Entertainment from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Finally, Bank of America reduced their price objective on Caesars Entertainment from $55.00 to $50.00 in a research report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.21.
Insider buying and selling
In related news, Director Michael E. Pegram purchased 25,000 shares of Caesars Entertainment stock in a transaction dated Friday, November 4th. The shares were bought at an average price of $44.74 per share, with a total value of $1,118,500.00. Following the completion of the transaction, the director now owns 96,697 shares in the company, valued at approximately $4,326,223.78. The purchase was disclosed in a filing with the SEC, which can be accessed via this link. 0.50% of the stock is currently owned by corporate insiders.
Caesars Entertainment stock fell 3.4%
CZR opened at $50.62 on Tuesday. The company has a 50-day simple moving average of $47.29 and a two-hundred-day simple moving average of $44.81. Caesars Entertainment Inc. The 52-week low is $31.31 and the 52-week high is $89.80. The company has a market capitalization of $10.86 billion, a PE ratio of -9.14 and a beta of 2.83. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 6.53.
Caesars Entertainment (NASDAQ:CZR – Get Ratings ) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Caesars Entertainment had a negative net margin of 11.18% and a negative return on equity of 15.21%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.84 billion. Analysts predict that Caesars Entertainment Inc. Will post -1.72 earnings per share for the current fiscal year.
Caesar Entertainment Profile
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Caesars Holdings, Inc. is a holding company, which engages in the provision of casino entertainment and hospitality services. It works through the following regions: Las Vegas, the rest of America, and all others. All other segments include managed and international properties as well as other businesses, such as Caesars Interactive Entertainment.
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