Quinn Opportunity Partners LLC boosted its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 22.2% in the 1st quarter, HoldingsChannel reports. The fund owned 110,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in Caesars Entertainment were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in CZR. Oaktree Capital Management LP purchased a new position in Caesars Entertainment during the fourth quarter valued at approximately $67,900,000. Vanguard Group Inc increased 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 buying an additional 7,294,525 shares in the last quarter. Norges Bank purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $37,693,000. Assenagon Asset Management S.A. purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $32,271,000. Finally, Eagle Asset Management Inc. increased its position in shares of Caesars Entertainment by 87.4% in the first quarter. Eagle Asset Management Inc. now owns 4,832,994 shares of the company’s stock valued at $41,998,000 after buying an additional 2,254,092 shares in the last quarter.
In other news, VP Les Ottolenghi sold 17,240 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.74, for a total value of $150,677.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 97,460 shares of company stock worth $840,337 in the last three months. 0.92% of the stock is currently owned by corporate insiders.
CZR has been the topic of a number of research analyst reports. ValuEngine raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, March 1st. Deutsche Bank reissued a “buy” rating and set a $11.00 price objective on shares of Caesars Entertainment in a research note on Monday, February 25th. BidaskClub lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, UBS Group boosted their price objective on Caesars Entertainment from $7.00 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.06.
NASDAQ CZR opened at $9.25 on Friday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -48.68 and a beta of 1.21. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 6.02. Caesars Entertainment Co. has a fifty-two week low of $5.84 and a fifty-two week high of $13.54.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.13). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.08 billion. Caesars Entertainment had a negative return on equity of 9.84% and a net margin of 1.41%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Equities analysts anticipate that Caesars Entertainment Co. will post -0.39 EPS for the current year.
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About Caesars Entertainment
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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