Schwab Charles Investment Management Inc. trimmed its holdings in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 19.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 721,084 shares of the company’s stock after selling 170,770 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.10% of Caesars Entertainment worth $7,716,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CZR. Long Pond Capital LP raised its holdings in Caesars Entertainment by 214.2% in the 1st quarter. Long Pond Capital LP now owns 22,081,228 shares of the company’s stock worth $248,414,000 after acquiring an additional 15,053,742 shares during the last quarter. Blackstone Group L.P. purchased a new position in Caesars Entertainment in the 1st quarter worth approximately $47,836,000. Global Thematic Partners LLC raised its holdings in Caesars Entertainment by 20.7% in the 2nd quarter. Global Thematic Partners LLC now owns 4,060,848 shares of the company’s stock worth $43,452,000 after acquiring an additional 696,150 shares during the last quarter. Beach Point Capital Management LP raised its holdings in Caesars Entertainment by 36.7% in the 2nd quarter. Beach Point Capital Management LP now owns 3,447,509 shares of the company’s stock worth $36,888,000 after acquiring an additional 925,798 shares during the last quarter. Finally, MD Sass Investors Services Inc. purchased a new position in Caesars Entertainment in the 1st quarter worth approximately $36,329,000.

In other Caesars Entertainment news, insider Mark P. Frissora acquired 100,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was purchased at an average price of $9.55 per share, with a total value of $955,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eric A. Hession acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were acquired at an average cost of $9.54 per share, with a total value of $95,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 125,000 shares of company stock valued at $1,199,150. Company insiders own 4.60% of the company’s stock.

Shares of CZR opened at $10.15 on Friday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of -3.01 and a beta of 0.47. The company has a quick ratio of 1.96, a current ratio of 1.98 and a debt-to-equity ratio of 5.52. Caesars Entertainment Co. has a 1-year low of $8.55 and a 1-year high of $14.50.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Wednesday, August 1st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. Caesars Entertainment had a net margin of 21.90% and a negative return on equity of 4.71%. The company’s quarterly revenue was up 110.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($9.62) EPS. sell-side analysts expect that Caesars Entertainment Co. will post -0.04 earnings per share for the current year.

A number of equities analysts recently weighed in on CZR shares. ValuEngine upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. BidaskClub upgraded shares of Caesars Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday, July 7th. Zacks Investment Research upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Bank of America started coverage on shares of Caesars Entertainment in a report on Monday, July 23rd. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Jefferies Financial Group set a $11.00 price objective on shares of Caesars Entertainment and gave the stock a “hold” rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.55.

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 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

Further Reading: What is a Leveraged Buyout (LBO)?

Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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