First Republic Investment Management Inc. lowered its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,146 shares of the company’s stock after selling 3,778 shares during the quarter. First Republic Investment Management Inc.’s holdings in Caesars Entertainment were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jabodon PT Co. raised its position in Caesars Entertainment by 32.8% in the second quarter. Jabodon PT Co. now owns 652,510 shares of the company’s stock worth $7,713,000 after acquiring an additional 161,117 shares during the period. Myriad Asset Management Ltd. bought a new position in Caesars Entertainment during the second quarter valued at $165,000. Magnus Financial Group LLC bought a new position in Caesars Entertainment during the second quarter valued at $191,000. Eagle Asset Management Inc. lifted its position in Caesars Entertainment by 74.1% during the second quarter. Eagle Asset Management Inc. now owns 8,413,040 shares of the company’s stock valued at $99,442,000 after purchasing an additional 3,580,046 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Caesars Entertainment during the second quarter valued at $5,232,000.
In other news, VP Les Ottolenghi sold 17,375 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.49, for a total transaction of $199,638.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 52,114 shares of company stock worth $597,753. 0.51% of the stock is owned by corporate insiders.
Shares of CZR traded up $0.04 during mid-day trading on Friday, hitting $11.90. 18,896,328 shares of the company’s stock were exchanged, compared to its average volume of 22,693,482. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -62.63 and a beta of 1.49. Caesars Entertainment Co. has a fifty-two week low of $5.84 and a fifty-two week high of $12.23. The company has a debt-to-equity ratio of 6.69, a quick ratio of 1.13 and a current ratio of 1.15. The stock’s 50-day moving average is $11.60 and its 200-day moving average is $10.14.
Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.19 billion. Caesars Entertainment had a negative return on equity of 12.38% and a negative net margin of 2.59%. As a group, equities research analysts anticipate that Caesars Entertainment Co. will post -0.81 EPS for the current year.
Several equities research analysts have recently issued reports on CZR shares. Nomura lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and set a $12.00 target price for the company. in a report on Tuesday, June 25th. Morgan Stanley downgraded shares of Caesars Entertainment from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $11.00 to $12.50 in a research report on Tuesday, June 25th. SunTrust Banks cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price objective for the company. in a research note on Tuesday, June 25th. ValuEngine upgraded shares of Caesars Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.08.
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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