Oppenheimer Asset Management Inc. acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,151 shares of the company’s stock, valued at approximately $203,000.
A number of other hedge funds also recently made changes to their positions in CZR. Hexagon Capital Partners LLC raised its stake in shares of Caesars Entertainment by 5,000.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 510 shares of the company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Elequin Securities LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $32,000. Ameritas Advisory Services LLC acquired a new position in shares of Caesars Entertainment in the 1st quarter valued at $37,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $43,000. Finally, Assetmark Inc. grew its holdings in shares of Caesars Entertainment by 24.2% in the 4th quarter. Assetmark Inc. now owns 1,356 shares of the company’s stock worth $56,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.
Wall Street Analyst Weigh In
CZR has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Caesars Entertainment in a report on Thursday, August 17th. They issued a “buy” rating on the stock. TheStreet raised shares of Caesars Entertainment from a “d” rating to a “c-” rating in a report on Friday, August 4th. Susquehanna raised shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and upped their target price for the stock from $27.00 to $39.00 in a report on Thursday, May 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Caesars Entertainment in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Caesars Entertainment from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.
Caesars Entertainment Stock Up 2.0 %
Shares of NASDAQ CZR opened at $53.92 on Thursday. The firm has a market capitalization of $11.61 billion, a PE ratio of 17.01 and a beta of 2.91. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 2.67. Caesars Entertainment, Inc. has a 1 year low of $31.31 and a 1 year high of $60.27. The firm’s 50-day moving average is $53.18 and its 200-day moving average is $48.83.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last issued its earnings results on Tuesday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.49. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.86 billion. Caesars Entertainment had a net margin of 6.03% and a return on equity of 5.71%. Equities analysts expect that Caesars Entertainment, Inc. will post 1.36 EPS for the current year.
Insider Activity
In other Caesars Entertainment news, CEO Thomas Reeg bought 7,500 shares of Caesars Entertainment stock in a transaction dated Wednesday, June 14th. The shares were bought at an average price of $49.43 per share, with a total value of $370,725.00. Following the purchase, the chief executive officer now owns 17,500 shares of the company’s stock, valued at $865,025. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Thomas Reeg purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $49.43 per share, for a total transaction of $370,725.00. Following the transaction, the chief executive officer now directly owns 17,500 shares of the company’s stock, valued at approximately $865,025. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephanie Lepori sold 33,282 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $51.70, for a total transaction of $1,720,679.40. Following the completion of the sale, the chief accounting officer now owns 41,910 shares in the company, valued at $2,166,747. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Caesars Entertainment Profile
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company owns, leases, or manages domestic properties in 16 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts sports wagering across 28 jurisdictions in North America, including mobile for sports betting and regulated online real money gaming in six jurisdictions in North America; retail and online gaming and sports betting; and other games, such as keno.
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