SG Americas Securities LLC Lowers Holdings in Caesars Entertainment, Inc. $CZR

SG Americas Securities LLC trimmed its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 78.9% during the 1st quarter, Holdings Channel reports. The fund owned 231,290 shares of the company’s stock after selling 866,473 shares during the quarter. SG Americas Securities LLC’s holdings in Caesars Entertainment were worth $6,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of CZR. Invesco Ltd. increased its holdings in shares of Caesars Entertainment by 12.8% during the 4th quarter. Invesco Ltd. now owns 995,208 shares of the company’s stock valued at $23,278,000 after purchasing an additional 112,691 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Caesars Entertainment during the fourth quarter worth $1,696,000. Mercer Global Advisors Inc. ADV purchased a new stake in Caesars Entertainment during the fourth quarter worth $484,000. State of Tennessee Department of Treasury grew its position in Caesars Entertainment by 125.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,824 shares of the company’s stock valued at $1,282,000 after buying an additional 30,536 shares during the period. Finally, XTX Topco Ltd grew its position in Caesars Entertainment by 202.5% during the fourth quarter. XTX Topco Ltd now owns 64,427 shares of the company’s stock valued at $1,507,000 after buying an additional 43,126 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

CZR opened at $30.19 on Monday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -12.74 and a beta of 1.77. The company’s 50 day simple moving average is $28.45 and its two-hundred day simple moving average is $25.65. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CZR shares. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Jefferies Financial Group lifted their price target on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. Wall Street Zen raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.53.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares of the company’s stock, valued at $536,019.05. This trade represents a 81.71% 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 Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by company insiders.

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.