Cerity Partners LLC bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) stock in the second quarter, HoldingsChannel reports. The institutional investor purchased 6,749 shares of the company, valued at approximately $259,000.
Other large investors have also made changes to their positions in the company. Manchester Capital Management LLC acquired a new position in Caesars Entertainment shares during the first quarter for approximately $77,000. Crewe Advisors LLC acquired a new position in Caesars Entertainment stock during the second quarter for approximately $38,000. Covestor Ltd increased its stake in Caesars Entertainment shares by 958.7% during the first quarter. Covestor Ltd now owns 1,154 shares of the company worth $89,000 after purchasing an additional 1,045 shares during the period. Centaurus Financial Inc. increased its stake in Caesars Entertainment shares by 19.3% during the first quarter. Centaurus Financial Inc. now owns 1,412 shares of the company worth $109,000 after purchasing an additional 228 shares during the period. Finally, AIA Group Ltd increased its stake in Caesars Entertainment shares by 51.7% during the first quarter. AIA Group Ltd now owns 1,650 shares of the company worth $128,000 after purchasing an additional 562 shares during the period. 95.55% of the shares are owned by institutional investors and hedge funds.
Wall Street analysts forecast growth
Several brokerage firms have recently weighed in on CZR. Cowen lowered his price target on Caesars Entertainment from $105.00 to $87.00 in a research note on Wednesday, August 3. Cowen lowered his price target on Caesars Entertainment to $75.00 in a research note on Thursday, October 20. Susquehanna Bancshares lowered its price target on Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating for the company in a research note on Monday, October 3. Wells Fargo & Company increased its price target on Caesars Entertainment from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, November 2. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Caesars Entertainment from $90.00 to $64.00 in a research note on Wednesday, August 3. Two research analysts gave the stock a sell rating, three issued a hold rating and eleven gave the stock a buy rating. According to MarketBeat data, the stock has an average “Moderate Buy” rating and a consensus price target of $79.19.
Caesars Entertainment shares fell 2.8%
Shares of NASDAQ:CZR opened at $48.57 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.80, and a debt-to-equity ratio of 6.53. The company has a fifty day moving average of $41.61 and a two hundred day moving average of $44.16. The stock has a market capitalization of $10.42 billion, a P/E ratio of -8.77, and a beta of 2.83. Caesars Entertainment, Inc. has a 52-week minimum of $31.31 and a 52-week maximum of $97.39.
Internal transactions at Caesars Entertainment
In other Caesars Entertainment news, Director Michael E. Pegram purchased 25,000 shares in a transaction dated Friday, November 4. The shares were acquired at an average cost of $44.74 per share, for a total transaction of $1,118,500.00. Following the acquisition, the director now owns 96,697 shares in the company, valued at approximately $4,326,223.78. The acquisition was disclosed in a legal filing with the SEC, which is available via this link. The members of the company own 0.50% of the shares of the company.
About Caesars Entertainment
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos including online poker, keno, and racing and sports betting; restaurants, bars, nightclubs and lounges; Hotels; and entertainment venues. It also provides administration and staffing services; accessories, souvenirs and decorative items through retail stores; and online sports betting and iGaming services.
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