Arini Captial Management Ltd Purchases New Position in Caesars Entertainment, Inc. $CZR

Arini Captial Management Ltd purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,089,760 shares of the company’s stock, valued at approximately $25,489,000. Caesars Entertainment accounts for approximately 17.0% of Arini Captial Management Ltd’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds have also modified their holdings of the company. Capital World Investors raised its position in shares of Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the period. State Street Corp raised its position in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the period. Morgan Stanley lifted its holdings in shares of Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 valued at $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Caesars Entertainment by 0.4% during the 4th quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock valued at $101,797,000 after purchasing an additional 18,414 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 0.3%

Caesars Entertainment stock opened at $29.21 on Thursday. The firm has a 50-day moving average of $28.05 and a 200-day moving average of $25.34. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $31.58. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The company has a market cap of $5.95 billion, a price-to-earnings ratio of -12.32 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company posted ($0.54) earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CZR has been the topic of several research analyst reports. Texas Capital downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Morgan Stanley raised their target price on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.53.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,463 shares of company stock worth $8,609,241 over the last ninety days. Insiders own 1.18% of the company’s stock.

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.