Okabena Investment Services Inc. Invests $613,000 in Caesars Entertainment, Inc. $CZR

Okabena Investment Services Inc. acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, Holdings Channel.com reports. The firm acquired 20,314 shares of the company’s stock, valued at approximately $613,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Caesars Entertainment by 47.7% during the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after purchasing an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Caesars Entertainment by 8.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after acquiring an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Caesars Entertainment by 106.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after acquiring an additional 826,356 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Caesars Entertainment by 40.7% during the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after purchasing an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after purchasing an additional 3,198 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

CZR stock opened at $29.73 on Friday. The firm has a market cap of $6.06 billion, a P/E ratio of -13.04 and a beta of 1.77. The firm’s fifty day moving average is $29.87 and its 200 day moving average is $27.68. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned ($0.39) earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Blackhurst Janis L. Jones sold 33,899 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $29.63, for a total value of $1,004,427.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bret Yunker sold 208,134 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 595,003 shares of company stock worth $17,547,145 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, Wells Fargo & Company raised 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. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.71.

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.