Okabena Investment Services Inc. Makes New $613,000 Investment in Caesars Entertainment, Inc. $CZR

Okabena Investment Services Inc. bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,314 shares of the company’s stock, valued at approximately $613,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in Caesars Entertainment during the second quarter worth $830,001,000. Pentwater Capital Management LP bought a new position in Caesars Entertainment in the 2nd quarter valued at $346,014,000. State Street Corp increased its position in shares of Caesars Entertainment by 0.8% during the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after purchasing an additional 61,065 shares during the last quarter. Morgan Stanley increased its position in shares of Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after purchasing an additional 3,910,430 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after purchasing an additional 355,760 shares during the period. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Up 0.3%

Shares of NASDAQ CZR opened at $29.73 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The stock has a market capitalization of $6.06 billion, a PE ratio of -13.04 and a beta of 1.77. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The business’s fifty day moving average price is $29.87 and its 200-day moving average price is $27.68.

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

Insider Buying and Selling

In related news, Director Blackhurst Janis L. Jones sold 33,899 shares of Caesars Entertainment stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $29.63, for a total value of $1,004,427.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Josh Jones sold 59,507 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $29.72, for a total transaction of $1,768,548.04. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 595,003 shares of company stock valued at $17,547,145. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CZR shares. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Finally, Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given 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.

Caesars Entertainment 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.