Assenagon Asset Management S.A. Has $115.23 Million Stake in Caesars Entertainment, Inc. $CZR

Assenagon Asset Management S.A. raised its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 33.2% in the first quarter, Holdings Channel reports. The fund owned 4,359,946 shares of the company’s stock after buying an additional 1,085,516 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Caesars Entertainment were worth $115,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. CoreCap Advisors LLC lifted its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after purchasing an additional 488 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Caesars Entertainment by 1.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after acquiring an additional 493 shares during the last quarter. Corient Private Wealth LLC increased its position in Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after acquiring an additional 549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Caesars Entertainment by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after acquiring an additional 562 shares during the period. Finally, Sunbelt Securities Inc. raised its stake 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 purchasing an additional 672 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a legal 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 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 value of $2,393,962.10. Following the transaction, the insider owned 18,263 shares of the company’s stock, valued at $536,019.05. This trade represents a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 293,463 shares of company stock worth $8,609,241. Corporate insiders own 1.18% of the company’s stock.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $29.60 on Thursday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The firm’s 50-day simple moving average is $28.31 and its 200-day simple moving average is $25.55. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58. The firm has a market cap of $6.03 billion, a P/E ratio of -12.49 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned ($0.54) EPS. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CZR. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Monday, June 15th. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. 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 report on Friday, May 29th. Finally, Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.53.

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.