Paloma Partners Management Co Invests $569,000 in Caesars Entertainment, Inc. (NASDAQ:CZR)

Paloma Partners Management Co bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,001 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP grew its stake in Caesars Entertainment by 52.5% during the 3rd quarter. Wellington Management Group LLP now owns 21,866 shares of the company’s stock valued at $1,013,000 after acquiring an additional 7,525 shares in the last quarter. SG Americas Securities LLC grew its stake in Caesars Entertainment by 21.0% during the 4th quarter. SG Americas Securities LLC now owns 29,729 shares of the company’s stock valued at $1,394,000 after acquiring an additional 5,157 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Caesars Entertainment by 11.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 17,352 shares of the company’s stock valued at $813,000 after acquiring an additional 1,816 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Caesars Entertainment by 1,029.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock valued at $11,998,000 after acquiring an additional 233,271 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Caesars Entertainment by 32.3% during the 4th quarter. Fifth Third Bancorp now owns 9,471 shares of the company’s stock valued at $444,000 after acquiring an additional 2,310 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now owns 350 shares in the company, valued at approximately $11,382. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now owns 350 shares in the company, valued at approximately $11,382. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Pegram bought 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the purchase, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is owned by company insiders.

Caesars Entertainment Stock Up 4.2 %

Shares of NASDAQ CZR traded up $1.46 during mid-day trading on Monday, reaching $36.52. The company had a trading volume of 5,992,842 shares, compared to its average volume of 3,904,981. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. The firm has a 50 day simple moving average of $36.64 and a two-hundred day simple moving average of $39.60. The stock has a market cap of $7.90 billion, a P/E ratio of 10.35 and a beta of 2.99. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $59.50.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CZR has been the topic of several recent analyst reports. Susquehanna lowered shares of Caesars Entertainment from a “neutral” rating to a “negative” rating and decreased their target price for the company from $44.00 to $33.00 in a report on Monday, July 15th. Barclays decreased their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. TD Cowen decreased their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JMP Securities decreased their price objective on shares of Caesars Entertainment from $60.00 to $58.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.