Caesars Entertainment, Inc. $CZR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 64.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 624,542 shares of the company’s stock after selling 1,121,665 shares during the period. Hsbc Holdings PLC owned approximately 0.31% of Caesars Entertainment worth $14,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in shares of Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after acquiring an additional 672 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying an additional 918 shares in the last quarter. CoreCap Advisors LLC grew 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 valued at $37,000 after acquiring an additional 488 shares during the period. Stance Capital LLC acquired a new stake in Caesars Entertainment in the third quarter valued at approximately $43,000. Finally, Hantz Financial Services Inc. grew its stake in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after acquiring an additional 846 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $30.41 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The stock has a market cap of $6.19 billion, a P/E ratio of -12.83 and a beta of 1.77. The stock has a 50 day moving average of $28.39 and a two-hundred day moving average of $25.60. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58.

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

Insider Buying and Selling

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,606,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 293,463 shares of company stock worth $8,609,241. Corporate insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Citigroup raised their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Citizens Jmp raised their target price on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Raymond James Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Finally, Truist Financial downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $31.00 in a report on Friday, May 29th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.