Bank of New York Mellon Corp Decreases Stock Position in Caesars Entertainment, Inc. $CZR

Bank of New York Mellon Corp lessened its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,661,683 shares of the company’s stock after selling 36,570 shares during the period. Bank of New York Mellon Corp’s holdings in Caesars Entertainment were worth $43,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after purchasing an additional 918 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the period. Hantz Financial Services Inc. grew its position in shares of Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after buying an additional 846 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $55,000. Institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CZR. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Citigroup upped their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Citizens Jmp raised their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reaffirmed 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. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.00.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock valued at $8,609,241 in the last 90 days. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Trading Up 0.1%

NASDAQ:CZR opened at $29.94 on Friday. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The company’s 50 day moving average price is $29.43 and its 200-day moving average price is $26.47. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced 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). The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.Caesars Entertainment’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. On average, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.49 earnings per share 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.