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

Man Group plc bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,091,872 shares of the company’s stock, valued at approximately $32,953,000. Man Group plc owned 0.54% of Caesars Entertainment at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Caesars Entertainment by 47.7% during the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after buying an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after acquiring an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Caesars Entertainment by 106.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after acquiring an additional 826,356 shares during the last quarter. Woodline Partners LP boosted its position in shares of Caesars Entertainment by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after purchasing an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Caesars Entertainment by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after purchasing an additional 3,198 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Caesars Entertainment news, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 561,104 shares of company stock worth $16,542,718. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CZR shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Barclays restated an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.71.

Caesars Entertainment Price Performance

CZR stock opened at $29.66 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The firm has a market capitalization of $6.04 billion, a PE ratio of -13.01 and a beta of 1.77. The firm has a 50-day moving average of $29.86 and a two-hundred day moving average of $27.60.

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