Principal Financial Group Inc. Acquires 19,258 Shares of Caesars Entertainment, Inc. $CZR

Principal Financial Group Inc. increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 989,061 shares of the company’s stock after acquiring an additional 19,258 shares during the period. Principal Financial Group Inc.’s holdings in Caesars Entertainment were worth $26,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after buying an additional 846 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $55,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 0.2%

Shares of NASDAQ CZR opened at $29.80 on Tuesday. The firm’s 50-day simple moving average is $29.18 and its 200 day simple moving average is $26.31. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -12.57 and a beta of 1.76. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business posted ($0.54) EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram sold 16,897 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider owned 18,263 shares of the company’s stock, valued at $536,019.05. This trade represents a 81.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,463 shares of company stock worth $8,609,241 over the last three months. 1.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CZR. Jefferies Financial Group boosted their price target on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. Citizens Jmp lifted their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company increased their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Caesars Entertainment has a consensus rating of “Hold” and a consensus price target of $31.00.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.