Delphi Financial Group Inc. Reduces Stock Position in Caesars Entertainment, Inc. $CZR

Delphi Financial Group Inc. lessened its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 70.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,890 shares of the company’s stock after selling 272,690 shares during the quarter. Caesars Entertainment accounts for 1.4% of Delphi Financial Group Inc.’s portfolio, making the stock its 17th largest position. Delphi Financial Group Inc. owned approximately 0.06% of Caesars Entertainment worth $2,734,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CZR. Capital World Investors grew its stake in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. Norges Bank purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $76,050,000. MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $65,492,000. Assenagon Asset Management S.A. grew its stake in Caesars Entertainment by 317.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after purchasing an additional 2,490,924 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Caesars Entertainment by 35,370.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock valued at $57,645,000 after purchasing an additional 2,457,570 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CZR has been the topic of several research analyst reports. Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Morgan Stanley upped their target price on Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Finally, Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Caesars Entertainment currently has a consensus rating of “Hold” and a consensus price target of $32.80.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $29.20 on Friday. The business has a 50 day simple moving average of $27.56 and a two-hundred day simple moving average of $24.85. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $31.58. The stock has a market capitalization of $5.95 billion, a P/E 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 announced its earnings results on Tuesday, April 28th. The company reported ($0.48) 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 firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned ($0.54) EPS. Caesars Entertainment’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal 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.