Legal & General Group Plc Has $11.62 Million Stock Position in Caesars Entertainment, Inc. $CZR

Legal & General Group Plc reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 496,585 shares of the company’s stock after selling 29,816 shares during the period. Legal & General Group Plc’s holdings in Caesars Entertainment were worth $11,615,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CZR. Capital World Investors grew its holdings in shares of Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Caesars Entertainment by 317.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after purchasing an additional 2,490,924 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Caesars Entertainment by 35,370.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock worth $57,645,000 after purchasing an additional 2,457,570 shares in the last quarter. Ossiam grew its holdings in shares of Caesars Entertainment by 7,760.9% during the 3rd quarter. Ossiam now owns 1,883,007 shares of the company’s stock worth $50,888,000 after purchasing an additional 1,859,053 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Caesars Entertainment by 315.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,946,099 shares of the company’s stock worth $52,593,000 after purchasing an additional 1,477,284 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram sold 55,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $29.18 on Thursday. The stock has a market cap of $5.94 billion, a P/E ratio of -12.31 and a beta of 1.77. 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’s 50-day moving average is $27.45 and its 200-day moving average is $24.75. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.54) earnings per share. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

CZR has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Citigroup raised their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Hold” and an average price target of $32.80.

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.