Contrarius Investment Management Ltd Makes New $13.15 Million Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Contrarius Investment Management Ltd acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZRFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 280,474 shares of the company’s stock, valued at approximately $13,149,000. Caesars Entertainment comprises 0.7% of Contrarius Investment Management Ltd’s holdings, making the stock its 28th largest position. Contrarius Investment Management Ltd owned about 0.13% of Caesars Entertainment as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CZR. Hsbc Holdings PLC lifted its position in Caesars Entertainment by 41.9% during the fourth quarter. Hsbc Holdings PLC now owns 411,286 shares of the company’s stock worth $19,425,000 after buying an additional 121,505 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Caesars Entertainment by 8.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 58,421 shares of the company’s stock worth $2,739,000 after acquiring an additional 4,787 shares during the period. Assetmark Inc. boosted its position in shares of Caesars Entertainment by 25.2% in the fourth quarter. Assetmark Inc. now owns 3,397 shares of the company’s stock worth $159,000 after acquiring an additional 684 shares during the last quarter. Quest Partners LLC purchased a new stake in Caesars Entertainment in the fourth quarter valued at approximately $715,000. Finally, Trexquant Investment LP acquired a new position in Caesars Entertainment during the fourth quarter worth approximately $4,820,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CZR shares. TD Cowen decreased their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Susquehanna dropped their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Morgan Stanley raised their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Raymond James assumed coverage on shares of Caesars Entertainment in a research report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.07.

View Our Latest Report on Caesars Entertainment

Caesars Entertainment Stock Performance

Caesars Entertainment stock traded up $1.10 on Monday, hitting $33.63. The company’s stock had a trading volume of 5,159,500 shares, compared to its average volume of 3,499,698. Caesars Entertainment, Inc. has a one year low of $32.51 and a one year high of $60.27. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The company has a fifty day moving average price of $38.87 and a 200-day moving average price of $42.48. The firm has a market cap of $7.28 billion, a P/E ratio of 9.53 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZRGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael E. Pegram bought 40,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the purchase, the director now owns 181,697 shares in the company, valued at $6,611,953.83. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Michael E. Pegram acquired 40,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Caesars Entertainment Profile

(Free Report)

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.

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

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