Shapiro Capital Management LLC Has $171.46 Million Stake in Caesars Entertainment Co. (CZR)

Shapiro Capital Management LLC increased its position in Caesars Entertainment Co. (NASDAQ:CZR) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,251,911 shares of the company’s stock after acquiring an additional 1,243,049 shares during the quarter. Caesars Entertainment comprises about 4.7% of Shapiro Capital Management LLC’s holdings, making the stock its 5th biggest holding. Shapiro Capital Management LLC owned 3.77% of Caesars Entertainment worth $171,460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Caesars Entertainment by 16.3% in the third quarter. Vanguard Group Inc. now owns 52,126,701 shares of the company’s stock valued at $534,298,000 after acquiring an additional 7,294,525 shares during the period. Vanguard Group Inc boosted its position in shares of Caesars Entertainment by 16.3% in the third quarter. Vanguard Group Inc now owns 52,126,701 shares of the company’s stock valued at $534,298,000 after acquiring an additional 7,294,525 shares during the period. Geode Capital Management LLC boosted its position in shares of Caesars Entertainment by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 5,677,102 shares of the company’s stock valued at $38,547,000 after acquiring an additional 188,947 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $32,271,000. Finally, Eagle Asset Management Inc. boosted its position in shares of Caesars Entertainment by 262.1% in the fourth quarter. Eagle Asset Management Inc. now owns 2,578,902 shares of the company’s stock valued at $17,510,000 after acquiring an additional 1,866,636 shares during the period.

A number of equities research analysts recently weighed in on CZR shares. BidaskClub downgraded shares of Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. UBS Group raised shares of Caesars Entertainment from a “sell” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $7.00 in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Deutsche Bank lowered their target price on shares of Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. Finally, Bank of America downgraded shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and raised their target price for the company from $8.75 to $9.00 in a research note on Wednesday, January 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.75.

In other Caesars Entertainment news, Director Don R. Kornstein purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average cost of $7.00 per share, with a total value of $140,000.00. Following the completion of the purchase, the director now owns 78,552 shares of the company’s stock, valued at approximately $549,864. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Les Ottolenghi sold 17,240 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.74, for a total transaction of $150,677.60. The disclosure for this sale can be found here. Insiders sold 97,460 shares of company stock worth $840,337 over the last ninety days. 0.92% of the stock is currently owned by insiders.

Shares of CZR opened at $8.08 on Friday. The company has a market capitalization of $5.41 billion, a P/E ratio of -42.53 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.11 and a debt-to-equity ratio of 5.65. Caesars Entertainment Co. has a 1-year low of $5.84 and a 1-year high of $13.54.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Thursday, February 21st. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Caesars Entertainment had a net margin of 3.61% and a negative return on equity of 4.12%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.48 earnings per share. On average, analysts anticipate that Caesars Entertainment Co. will post -0.35 EPS for the current fiscal year.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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