Hsbc Holdings PLC Takes $30.97 Million Position in Caesars Entertainment, Inc. $CZR

Hsbc Holdings PLC bought a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, Holdings Channel.com reports. The firm bought 1,033,740 shares of the company’s stock, valued at approximately $30,967,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Caesars Entertainment by 47.7% during the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after purchasing an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after buying an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Caesars Entertainment by 106.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after buying an additional 826,356 shares during the last quarter. Woodline Partners LP boosted its position in Caesars Entertainment by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after buying an additional 5,192 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Caesars Entertainment by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after buying an additional 3,198 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caesars Entertainment

In other news, CMO Josh Jones sold 59,507 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 561,104 shares of company stock valued at $16,542,718. Company insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

CZR has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.71.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $29.64 on Friday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -13.00 and a beta of 1.77. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The business’s fifty day moving average price is $29.86 and its 200-day moving average price is $27.66.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.39) EPS. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

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.