Caesars Entertainment Co. (CZR) Shares Bought by Shapiro Capital Management LLC
Shapiro Capital Management LLC boosted its stake in Caesars Entertainment Co. (NASDAQ:CZR) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 25,251,911 shares of the company’s stock after purchasing an additional 1,243,049 shares during the quarter. Caesars Entertainment makes up 4.7% of Shapiro Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Shapiro Capital Management LLC’s holdings in Caesars Entertainment were worth $171,460,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter valued at $762,000. Janney Montgomery Scott LLC bought a new stake in shares of Caesars Entertainment during the 3rd quarter valued at $416,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Caesars Entertainment by 8.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,676 shares of the company’s stock valued at $269,000 after buying an additional 3,087 shares in the last quarter. Brookfield Asset Management Inc. boosted its holdings in shares of Caesars Entertainment by 130.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 460,000 shares of the company’s stock valued at $4,715,000 after buying an additional 260,000 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Caesars Entertainment by 2.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 932,056 shares of the company’s stock valued at $9,554,000 after buying an additional 21,914 shares in the last quarter.
In other Caesars Entertainment news, VP Les Ottolenghi sold 28,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $8.61, for a total value of $245,385.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Don R. Kornstein bought 20,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was acquired at an average cost of $6.29 per share, with a total value of $125,800.00. Following the transaction, the director now owns 88,552 shares in the company, valued at approximately $556,992.08. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 97,460 shares of company stock valued at $840,337. 0.92% of the stock is owned by insiders.
Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Thursday, February 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Caesars Entertainment had a negative return on equity of 4.12% and a net margin of 3.61%. Caesars Entertainment’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.48 EPS. Sell-side analysts forecast that Caesars Entertainment Co. will post -0.35 earnings per share for the current fiscal year.
A number of analysts have recently commented on the stock. Deutsche Bank restated a “buy” rating and set a $11.00 target price on shares of Caesars Entertainment in a report on Monday, February 25th. Zacks Investment Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, March 1st. BidaskClub raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Bank of America lowered Caesars Entertainment from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $8.75 to $9.00 in a research report on Wednesday, January 16th. Finally, UBS Group raised Caesars Entertainment from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $7.00 in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Caesars Entertainment has an average rating of “Hold” and an average target price of $11.75.
Caesars Entertainment Company Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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