Legal & General Group Plc Makes New $13.61 Million Investment in Caesars Entertainment, Inc. $CZR

Legal & General Group Plc acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 450,848 shares of the company’s stock, valued at approximately $13,607,000.

A number of other hedge funds have also modified their holdings of CZR. AQR Capital Management LLC raised its position in Caesars Entertainment by 47.7% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after purchasing an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Caesars Entertainment by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after purchasing an additional 826,356 shares during the period. Woodline Partners LP raised its holdings in shares of Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after buying an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $12,665,000 after buying 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

Shares of CZR opened at $29.73 on Monday. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $30.88. The stock’s 50 day moving average is $29.87 and its two-hundred day moving average is $27.73. The firm has a market capitalization of $6.06 billion, a PE ratio of -13.04 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.

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

Insider Activity

In other Caesars Entertainment news, CMO Josh Jones sold 59,507 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blackhurst Janis L. Jones sold 33,899 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $29.63, for a total value of $1,004,427.37. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 595,003 shares of company stock valued at $17,547,145 over the last three months. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CZR has been the topic of a number of research reports. Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. TD Cowen lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Wednesday, July 29th. Finally, Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and an average target price of $30.71.

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.