Caesars Entertainment, Inc. $CZR Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 13.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 915,440 shares of the company’s stock after selling 143,618 shares during the quarter. Royal Bank of Canada’s holdings in Caesars Entertainment were worth $24,196,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Street Corp grew its position in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after buying an additional 61,065 shares in the last quarter. Morgan Stanley raised its holdings in Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Caesars Entertainment by 246,899,900.0% in 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. Assenagon Asset Management S.A. grew its holdings in Caesars Entertainment by 33.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company’s stock worth $115,233,000 after acquiring an additional 1,085,516 shares in the last quarter. Finally, Norges Bank acquired a new position in Caesars Entertainment during the 4th quarter worth approximately $76,050,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CZR. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.71.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $30.10 on Thursday. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $30.88. The firm has a market capitalization of $6.13 billion, a P/E ratio of -13.20 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The company’s fifty day moving average price is $29.72 and its 200 day moving average price is $26.80.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. As a group, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 293,463 shares of company stock valued at $8,609,241 over the last ninety days. 1.18% of the stock is 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.