BidaskClub cut shares of Caesars Acquisition Company (NASDAQ:CACQ) from a hold rating to a sell rating in a research note released on Thursday morning.

Caesars Acquisition (CACQ) traded up 1.157% during midday trading on Thursday, reaching $19.675. 110,973 shares of the company’s stock were exchanged. Caesars Acquisition has a 12-month low of $10.00 and a 12-month high of $20.75. The firm has a 50-day moving average price of $19.60 and a 200 day moving average price of $16.86. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 4.454 and a beta of 0.59.

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In other Caesars Acquisition news, SVP Michael Daniel Cohen sold 10,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $17.68, for a total value of $176,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Justin Abrahams sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $19.66, for a total transaction of $393,200.00. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. raised its position in shares of Caesars Acquisition by 1,703.0% in the second quarter. Marshall Wace North America L.P. now owns 200,081 shares of the company’s stock valued at $3,802,000 after buying an additional 188,984 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Caesars Acquisition by 249.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,297 shares of the company’s stock valued at $177,000 after buying an additional 6,640 shares during the period. Legal & General Group Plc raised its position in shares of Caesars Acquisition by 3.3% in the second quarter. Legal & General Group Plc now owns 11,571 shares of the company’s stock valued at $221,000 after buying an additional 370 shares during the period. Bank of New York Mellon Corp raised its position in shares of Caesars Acquisition by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 177,047 shares of the company’s stock valued at $3,373,000 after buying an additional 7,651 shares during the period. Finally, First Trust Advisors LP bought a new position in shares of Caesars Acquisition during the second quarter valued at approximately $2,033,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

Caesars Acquisition Company Profile

Caesars Acquisition Company (CAC) owns voting membership units of Caesars Growth Partners, LLC (CGP LLC), a joint venture between CAC and subsidiaries of Caesars Entertainment Corporation (CEC or Caesars Entertainment). CAC serves as CGP LLC’s managing member and sole holder of its outstanding voting units.

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