Hsbc Holdings PLC Sells 1,121,665 Shares of Caesars Entertainment, Inc. $CZR

Hsbc Holdings PLC lowered its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 64.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 624,542 shares of the company’s stock after selling 1,121,665 shares during the period. Hsbc Holdings PLC’s holdings in Caesars Entertainment were worth $14,723,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Capital World Investors lifted its holdings in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. State Street Corp grew its holdings in Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after buying an additional 61,065 shares in the last quarter. Morgan Stanley increased its position in Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after buying an additional 3,910,430 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after buying an additional 4,937,998 shares during the period. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Caesars Entertainment by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after buying an additional 18,414 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael E. Pegram sold 16,897 shares of the 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the sale, the insider owned 18,263 shares in the company, valued at $536,019.05. This represents a 81.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 293,463 shares of company stock worth $8,609,241. 1.18% of the stock is currently owned by corporate insiders.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $30.35 on Wednesday. The firm’s 50 day simple moving average is $28.80 and its 200 day simple moving average is $25.96. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of -12.81 and a beta of 1.76. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted ($0.54) EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on CZR. Citizens Jmp upped their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Finally, Morgan Stanley increased their price target on Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.53.

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.