Bessemer Group Inc. Boosts Stock Holdings in Caesars Entertainment, Inc. $CZR

Bessemer Group Inc. boosted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 16,194.2% during the first quarter, HoldingsChannel.com reports. The firm owned 28,026 shares of the company’s stock after purchasing an additional 27,854 shares during the period. Bessemer Group Inc.’s holdings in Caesars Entertainment were worth $740,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after buying an additional 61,065 shares in the last quarter. Morgan Stanley increased its stake in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after acquiring an additional 3,910,430 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after buying an additional 4,937,998 shares during the period. Assenagon Asset Management S.A. increased its holdings in Caesars Entertainment by 33.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company’s stock valued at $115,233,000 after purchasing an additional 1,085,516 shares during the last quarter. Finally, Norges Bank purchased a new position in Caesars Entertainment during the 4th quarter valued at about $76,050,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram sold 16,897 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 18,263 shares of the company’s stock, valued at $536,019.05. The trade was a 81.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 293,463 shares of company stock worth $8,609,241 over the last quarter. Company insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Finally, Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Caesars Entertainment Stock Up 0.1%

CZR opened at $29.94 on Friday. The stock has a market capitalization of $6.10 billion, a P/E ratio of -12.63 and a beta of 1.76. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88. The business has a 50 day simple moving average of $29.43 and a 200-day simple moving average of $26.47. 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 quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (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 company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business earned ($0.54) EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Caesars Entertainment Profile

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.