100,508 Shares in Caesars Entertainment, Inc. $CZR Acquired by Carmignac Gestion

by · The Markets Daily

Carmignac Gestion purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 100,508 shares of the company’s stock, valued at approximately $3,033,000.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP bought a new position in shares of Caesars Entertainment in the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the period. Parkside Financial Bank & Trust boosted its position in Caesars Entertainment by 310.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after buying an additional 811 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after acquiring an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Transactions at Caesars Entertainment

In related news, Director Michael E. Pegram sold 50,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $29.41, for a total value of $1,470,500.00. Following the completion of the transaction, the director directly owned 41,697 shares in the company, valued at $1,226,308.77. This trade represents a 54.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Blackhurst Janis L. Jones sold 33,899 shares of Caesars Entertainment stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $29.63, for a total transaction of $1,004,427.37. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 393,237 shares of company stock worth $11,637,046 in the last ninety days. 1.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent analyst reports. Zacks Research downgraded shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Capital One Financial lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.71.

Read Our Latest Analysis on Caesars Entertainment

Caesars Entertainment Stock Down 0.1%

Caesars Entertainment stock traded down $0.02 during trading hours on Tuesday, hitting $29.66. 1,823,239 shares of the stock traded hands, compared to its average volume of 5,615,037. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The company has a market cap of $6.04 billion, a PE ratio of -13.01 and a beta of 1.75. The firm’s 50-day moving average price is $29.86 and its two-hundred day moving average price is $28.17. 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 (NASDAQ:CZR – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the business earned ($0.39) EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Caesars Entertainment Profile

(Free Report)

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.

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