Sei Investments Co. Increases Stake in Caesars Entertainment, Inc. $CZR

Sei Investments Co. raised its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 9.4% in the first quarter, Holdings Channel reports. The firm owned 1,141,411 shares of the company’s stock after acquiring an additional 97,849 shares during the quarter. Sei Investments Co.’s holdings in Caesars Entertainment were worth $30,168,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after buying an additional 61,065 shares in the last quarter. Morgan Stanley grew its holdings in shares of Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after buying an additional 3,910,430 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Caesars Entertainment by 33.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company’s stock valued at $115,233,000 after acquiring an additional 1,085,516 shares in the last quarter. Finally, Norges Bank purchased a new position in Caesars Entertainment in the 4th quarter worth approximately $76,050,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CZR. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.00.

Insider Buying and Selling at Caesars Entertainment

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 293,463 shares of company stock worth $8,609,241 over the last three months. Insiders own 1.18% of the company’s stock.

Caesars Entertainment Stock Up 0.1%

Shares of Caesars Entertainment stock opened at $29.97 on Tuesday. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $30.88. 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 company’s 50 day moving average is $29.48 and its 200 day moving average is $26.54. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -12.65 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted ($0.54) EPS. Research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS 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.