Caesars Entertainment, Inc. $CZR Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 989,061 shares of the company’s stock after acquiring an additional 19,258 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Caesars Entertainment worth $26,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after purchasing an additional 918 shares during the period. Sunbelt Securities Inc. raised its holdings in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares during the period. CoreCap Advisors LLC raised its holdings in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the period. Hantz Financial Services Inc. lifted its stake 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 buying an additional 846 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Caesars Entertainment in the fourth quarter worth about $55,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CZR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $32.00 to $31.00 in a research note on Friday, May 29th. Citizens Jmp lifted their price objective on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Barclays restated an “equal weight” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Caesars Entertainment has a consensus rating of “Hold” and a consensus target price of $31.00.

Insider Transactions at Caesars Entertainment

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The SEC filing for this sale provides additional information. Insiders have sold 293,463 shares of company stock valued at $8,609,241 in the last ninety days. 1.18% of the stock is owned by company insiders.

Caesars Entertainment Stock Performance

CZR opened at $29.80 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The stock’s 50 day moving average price is $29.18 and its two-hundred day moving average price is $26.31. The firm has a market capitalization of $6.07 billion, a P/E ratio of -12.57 and a beta of 1.76. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. Caesars Entertainment’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.54) earnings per share. On average, equities analysts forecast that Caesars Entertainment, Inc. will post -0.5 earnings per share for the current year.

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.