Capital Research Global Investors Sells 5,402,705 Shares of Caesars Entertainment, Inc. $CZR

Capital Research Global Investors decreased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,915,236 shares of the company’s stock after selling 5,402,705 shares during the period. Capital Research Global Investors’ holdings in Caesars Entertainment were worth $231,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. WINTON GROUP Ltd purchased a new stake in shares of Caesars Entertainment during the fourth quarter valued at $1,843,000. Parallel Advisors LLC boosted its stake in shares of Caesars Entertainment by 192.6% during the fourth quarter. Parallel Advisors LLC now owns 3,748 shares of the company’s stock valued at $88,000 after purchasing an additional 2,467 shares during the period. SCP Investment LP boosted its stake in shares of Caesars Entertainment by 10.0% during the fourth quarter. SCP Investment LP now owns 605,000 shares of the company’s stock valued at $14,151,000 after purchasing an additional 55,000 shares during the period. Natixis Advisors LLC boosted its stake in shares of Caesars Entertainment by 132.7% during the fourth quarter. Natixis Advisors LLC now owns 27,391 shares of the company’s stock valued at $641,000 after purchasing an additional 15,622 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Caesars Entertainment by 31.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 308,496 shares of the company’s stock valued at $7,216,000 after purchasing an additional 73,545 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CZR shares. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Jefferies Financial Group boosted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. Finally, Barclays lowered their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.80.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $29.20 on Monday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a 50-day moving average of $27.56 and a 200 day moving average of $24.88. The firm has a market cap of $5.95 billion, a PE ratio of -12.32 and a beta of 1.77. 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 released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the company earned ($0.54) earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is currently 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.