Delphi Financial Group Inc. Invests $10.53 Million in Caesars Entertainment, Inc. $CZR

Delphi Financial Group Inc. purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 389,580 shares of the company’s stock, valued at approximately $10,528,000. Caesars Entertainment comprises about 5.9% of Delphi Financial Group Inc.’s investment portfolio, making the stock its 6th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares during the last quarter. Mather Group LLC. acquired a new position in Caesars Entertainment in the third quarter worth $28,000. Salomon & Ludwin LLC bought a new stake in shares of Caesars Entertainment during the third quarter worth $41,000. Zions Bancorporation National Association UT increased its stake in shares of Caesars Entertainment by 5,384.4% in the third quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company’s stock valued at $47,000 after buying an additional 1,723 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Caesars Entertainment in the third quarter valued at $49,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $28.06 on Friday. The firm has a market capitalization of $5.71 billion, a P/E ratio of -11.55 and a beta of 1.94. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The business has a 50-day moving average of $22.99 and a 200-day moving average of $23.35. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

CZR has been the topic of several research reports. Barclays reduced their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Citizens Jmp decreased their price target on shares of Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average price target of $33.65.

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.