Private Advisor Group LLC Increases Holdings in Caesars Entertainment Co. (CZR)
Private Advisor Group LLC raised its stake in Caesars Entertainment Co. (NASDAQ:CZR) by 122.0% during the fourth quarter, Holdings Channel reports. The fund owned 28,381 shares of the company’s stock after purchasing an additional 15,595 shares during the quarter. Private Advisor Group LLC’s holdings in Caesars Entertainment were worth $192,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Caesars Entertainment by 113.5% during the second quarter. Bank of New York Mellon Corp now owns 1,334,380 shares of the company’s stock worth $14,278,000 after acquiring an additional 709,373 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Caesars Entertainment during the third quarter worth $217,000. Victory Capital Management Inc. raised its position in shares of Caesars Entertainment by 35.3% during the third quarter. Victory Capital Management Inc. now owns 1,214,178 shares of the company’s stock worth $12,445,000 after acquiring an additional 316,808 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Caesars Entertainment during the third quarter worth $416,000. Finally, Eagle Asset Management Inc. raised its position in shares of Caesars Entertainment by 153.6% during the third quarter. Eagle Asset Management Inc. now owns 712,266 shares of the company’s stock worth $7,300,000 after acquiring an additional 431,443 shares during the last quarter.
In other Caesars Entertainment news, Director Don R. Kornstein bought 20,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was purchased at an average cost of $6.29 per share, with a total value of $125,800.00. Following the completion of the purchase, the director now owns 88,552 shares in the company, valued at $556,992.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Les Ottolenghi sold 17,240 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.74, for a total value of $150,677.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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 announced its quarterly earnings data on Thursday, February 21st. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). Caesars Entertainment had a negative return on equity of 4.12% and a net margin of 3.61%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm earned $2.48 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment Co. will post -0.35 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on CZR shares. BidaskClub downgraded Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Zacks Investment Research downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Deutsche Bank dropped their target price on Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Bank of America downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $8.75 to $9.00 in a research report on Wednesday, January 16th. Finally, UBS Group upgraded Caesars Entertainment from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $7.00 in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $11.75.
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About Caesars Entertainment
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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