HighTower Advisors LLC Has $1.11 Million Holdings in Caesars Entertainment, Inc. $CZR

HighTower Advisors LLC decreased its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 38.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,820 shares of the company’s stock after selling 23,376 shares during the period. HighTower Advisors LLC’s holdings in Caesars Entertainment were worth $1,111,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $830,001,000. Pentwater Capital Management LP acquired a new position in Caesars Entertainment in the second quarter worth approximately $346,014,000. California State Teachers Retirement System raised its position in Caesars Entertainment by 2,852.0% during the second quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company’s stock valued at $223,659,000 after acquiring an additional 6,521,369 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Caesars Entertainment by 5.8% in the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after acquiring an additional 355,760 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 0.0%

Shares of NASDAQ CZR opened at $29.68 on Tuesday. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The firm’s 50-day simple moving average is $29.80 and its 200 day simple moving average is $28.48. The company has a market cap of $6.05 billion, a price-to-earnings ratio of -13.02 and a beta of 1.75. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.39) earnings per share. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CZR has been the topic of several recent research reports. Barclays restated an “equal weight” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Capital One Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Raymond James Financial lowered Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.71.

Insiders Place Their Bets

In other Caesars Entertainment news, CMO Josh Jones sold 59,507 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total transaction of $1,768,548.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Tomick sold 7,000 shares of Caesars Entertainment stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $29.67, for a total transaction of $207,690.00. Following the completion of the sale, the director owned 38,911 shares in the company, valued at $1,154,489.37. This trade represents a 15.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 308,540 shares of company stock worth $9,145,594. 1.18% of the stock is owned by corporate insiders.

Caesars Entertainment Profile

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.