Bessemer Group Inc. Raises Holdings in Caesars Entertainment, Inc. $CZR

Bessemer Group Inc. boosted its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 16,194.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Caesars Entertainment by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company’s stock valued at $25,677,000 after buying an additional 419,617 shares in the last quarter. Ruffer LLP bought a new stake in Caesars Entertainment during the fourth quarter worth approximately $2,820,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment during the fourth quarter valued at approximately $65,492,000. Finally, 1492 Capital Management LLC bought a new stake in shares of Caesars Entertainment in the 1st quarter valued at approximately $1,020,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Finally, Barclays reissued an “equal weight” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.00.

Caesars Entertainment Stock Up 0.1%

Shares of CZR stock opened at $29.94 on Friday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company 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 debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The stock’s fifty day moving average price is $29.43 and its 200 day moving average price is $26.47.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.54) earnings per share. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’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 owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is currently owned by insiders.

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.