Quantbot Technologies LP Takes $3.83 Million Position in Caesars Entertainment, Inc. $CZR

Quantbot Technologies LP bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 127,000 shares of the company’s stock, valued at approximately $3,833,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of Caesars Entertainment during the 2nd quarter valued at about $25,000. Sunbelt Securities Inc. boosted its position in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 acquiring an additional 918 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after purchasing an additional 846 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after purchasing an additional 702 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Josh Jones sold 59,507 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 561,104 shares of company stock worth $16,542,718. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $29.76 on Monday. The company’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $27.41. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The company has a market cap of $6.06 billion, a PE ratio of -13.05 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the company posted ($0.39) earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. TD Cowen downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a report on Thursday, August 13th. Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company upped their price target on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.71.

About Caesars Entertainment

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.