Great West Life Assurance Co. Can boosted its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 24.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,650 shares of the company’s stock after acquiring an additional 14,476 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Caesars Entertainment were worth $476,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Blueshift Asset Management LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $329,000. Van ECK Associates Corp lifted its stake in shares of Caesars Entertainment by 8.7% in the 4th quarter. Van ECK Associates Corp now owns 60,907 shares of the company’s stock valued at $414,000 after purchasing an additional 4,853 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $116,000. AlphaCrest Capital Management LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $74,000. Finally, Eagle Asset Management Inc. lifted its stake in Caesars Entertainment by 262.1% during the 4th quarter. Eagle Asset Management Inc. now owns 2,578,902 shares of the company’s stock worth $17,510,000 after acquiring an additional 1,866,636 shares in the last quarter.
Several equities analysts recently issued reports on CZR shares. Deutsche Bank decreased their target price on Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. ValuEngine upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. BidaskClub upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Bank of America cut Caesars Entertainment from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.75 to $9.00 in a research report on Wednesday, January 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Caesars Entertainment presently has a consensus rating of “Hold” and an average target price of $11.75.
Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Thursday, February 21st. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.11 billion. Caesars Entertainment had a net margin of 3.61% and a negative return on equity of 4.12%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.48 earnings per share. As a group, research analysts forecast that Caesars Entertainment Co. will post -0.43 EPS for the current fiscal year.
In related news, VP Les Ottolenghi sold 17,240 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.74, for a total value of $150,677.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 97,460 shares of company stock valued at $840,337 over the last three months. Insiders own 0.92% of the company’s stock.
Caesars Entertainment Company Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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