3,251,369 Shares in Caesars Entertainment, Inc. $CZR Acquired by Norges Bank

Norges Bank purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,251,369 shares of the company’s stock, valued at approximately $76,050,000.

Several other hedge funds have also made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Caesars Entertainment by 29.8% in 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 during the last quarter. State Street Corp lifted its holdings in shares of Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Caesars Entertainment by 0.4% in the 4th quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after purchasing an additional 18,414 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Caesars Entertainment by 317.9% in 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Caesars Entertainment by 35,370.9% in 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 during the last quarter. Institutional investors own 91.79% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

CZR has been the topic of several recent research reports. Citigroup raised their price target on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Finally, Macquarie Infrastructure cut Caesars Entertainment from an “outperform” rating to a “neutral” rating in a research report on Monday, June 1st. 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. According to MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and a consensus price target of $32.80.

Caesars Entertainment Stock Down 0.2%

CZR opened at $29.20 on Friday. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $31.58. 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 has a market cap of $5.95 billion, a P/E ratio of -12.32 and a beta of 1.77. The stock’s 50 day moving average price is $27.56 and its 200 day moving average price is $24.85.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned ($0.54) earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Caesars Entertainment Company 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.