Caesars Entertainment, Inc. $CZR Shares Sold by Delphi Financial Group Inc.

Delphi Financial Group Inc. cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 70.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,890 shares of the company’s stock after selling 272,690 shares during the period. Caesars Entertainment makes up about 1.4% of Delphi Financial Group Inc.’s holdings, making the stock its 17th largest holding. Delphi Financial Group Inc.’s holdings in Caesars Entertainment were worth $2,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ING Groep NV increased its holdings in shares of Caesars Entertainment by 80.2% in the third quarter. ING Groep NV now owns 599,854 shares of the company’s stock valued at $16,211,000 after purchasing an additional 266,917 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after purchasing an additional 2,490,924 shares during the last quarter. Capital World Investors increased its holdings in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Caesars Entertainment by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company’s stock valued at $25,677,000 after purchasing an additional 419,617 shares during the last quarter. Finally, HighVista Strategies LLC acquired a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $1,162,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram sold 55,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Wells Fargo & Company increased their price target on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Stifel Nicolaus cut their price target on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Citizens Jmp increased their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Hold” and a consensus price target of $32.80.

Caesars Entertainment Trading Down 0.2%

CZR opened at $29.20 on Friday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $31.58. The business has a fifty day simple moving average of $27.56 and a 200-day simple moving average of $24.85. The firm has a market cap of $5.95 billion, a P/E ratio of -12.32 and a beta of 1.77. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) 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 analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business earned ($0.54) earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

About Caesars Entertainment

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.