Man Group plc Acquires New Position in Caesars Entertainment, Inc. $CZR

Man Group plc acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,091,872 shares of the company’s stock, valued at approximately $32,953,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of Caesars Entertainment during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Caesars Entertainment by 456.7% during 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 in the last quarter. Sunbelt Securities Inc. boosted its position 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 during the last quarter. Hantz Financial Services Inc. boosted its position in Caesars Entertainment by 87.1% during 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

CZR has been the topic of several research reports. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Monday, June 15th. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $30.71.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 561,104 shares of company stock valued at $16,542,718 in the last quarter. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $29.66 on Thursday. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The business has a 50-day moving average of $29.86 and a two-hundred day moving average of $27.60. The stock has a market capitalization of $6.04 billion, a P/E ratio of -13.01 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

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

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.