Raymond James & Associates, a leading financial services company, has recently reduced its holdings in Caesars Entertainment, Inc. by 7.6% during the first quarter of this year. The disclosure was made in their most recent filing with the Securities and Exchange Commission (SEC). As a result of this reduction, Raymond James & Associates now owns 233,661 shares of Caesars Entertainment, valued at approximately $11.4 million.
Caesars Entertainment is a well-known gaming and hospitality company that operates across the United States. With properties in 16 states, the company offers a range of entertainment options including slot machines, video lottery terminals, e-tables, hotel rooms, as well as various table games such as poker. Additionally, Caesars Entertainment also conducts sports wagering in numerous jurisdictions across North America.
On Wednesday, July 5th, Caesars Entertainment’s stock opened at $50.60 on the NASDAQ exchange. The business’s 50-day simple moving average stands at $45.74 while its two-hundred day simple moving average is recorded at $46.92. The company has had a notable 52-week low of $31.31 and a high of $56.75 during this period.
Currently valued at approximately $10.89 billion in terms of market capitalization, Caesars Entertainment has a price-to-earnings (PE) ratio of -30.48 and a beta value of 2.90 indicating relatively high volatility compared to the broader market. The company also boasts a quick ratio of 0.82 and a current ratio of 0.85 demonstrating its ability to meet short-term obligations efficiently.
One aspect worth noting is Caesars Entertainment’s debt-to-equity ratio standing at an impressive 7:03 which suggests that it leans towards using debt financing for expansion plans and operational activities.
Overall, Raymond James & Associates decision to trim its holdings in Caesars Entertainment comes as a potentially calculated move in response to the ever-changing market dynamics. Investors and analysts will be keen to monitor future developments of both the financial services company and the gaming and hospitality giant. As the landscape continues to evolve, it remains crucial for investors to stay informed about such adjustments in order to make informed decisions regarding their portfolios.
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Caesars Entertainment Sees Changes in Positions by Hedge Funds and Institutional Investors, Shows Promise as Investment Opportunity
Caesars Entertainment, a prominent gaming and hospitality company in the United States, has recently seen changes in its positions by various hedge funds and institutional investors. Exchange Traded Concepts LLC increased its holdings in Caesars Entertainment by 5.0% during the first quarter, now owning 105,262 shares of the company’s stock worth $5,138,000. Wedmont Private Capital also bought a new stake in Caesars Entertainment during the same period valued at about $213,000.
Victory Capital Management Inc. has lifted its stake in shares of Caesars Entertainment by 24.5% in the fourth quarter, now owning 267,503 shares of the company’s stock worth $11,128,000. Natixis also grew its holdings in shares of Caesars Entertainment by 43.0% during the same period and now owns 18,885 shares valued at $786,000.
In addition to these reported increases in holdings by institutional investors, Macquarie Group Ltd. raised its holdings in Caesars Entertainment by an impressive 69.3% in the fourth quarter. The firm now owns 11,377 shares of the company’s stock worth $473,000.
These moves made by hedge funds and other institutional investors indicate their confidence and interest in Caesars Entertainment as a viable investment opportunity.
Several equities research analysts have also shared their opinions on CZR stocks lately. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and increased their price target for the company from $27.00 to $39.00. On the other hand, StockNews.com downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating.
Deutsche Bank Aktiengesellschaft also recently lowered its target price on Caesars Entertainment from $70.00 to $68.00. Despite these different ratings, one research analyst has rated the stock as a sell, five have given it a hold rating, and six consider it a buy. Based on Bloomberg data, the stock currently has a consensus rating of “Hold” and an average price target of $66.54.
Caesars Entertainment operates as a gaming and hospitality company in the United States. The company owns, leases, or manages various properties across 16 states, offering slot machines, video lottery terminals and e-tables, hotel rooms, and table games including poker. It is also involved in sports wagering activities across 28 jurisdictions in North America.
On May 2nd Caesars Entertainment reported its earnings for the quarter ending March 31st. The company posted $0.09 earnings per share (EPS), beating the consensus estimate of $0.06 by $0.03. Additionally, Caesars Entertainment had a positive return on equity of 2.24% with a negative net margin of 3.13%. The company’s revenue for the quarter was $2.83 billion compared to the consensus estimate of $2.74 billion.
In terms of recent insider trading activities at Caesars Entertainment, Director Michael E. Pegram acquired 25,000 shares of the company’s stock on May 5th at an average price of $45.02 per share, totaling to $1,125,500 in value. Following this acquisition, Director Michael E.
Pegram now owns 121,697 shares valued at $5,478,798.94.
Another notable insider transaction saw CEO Thomas Reeg acquire 7,500 shares on June 14th at an average price of $49.43 per share for a total value of $370,725.
These recent acquisitions by key personnel demonstrate their confidence in the future prospects and growth potential of Caesars Entertainment.
In conclusion, there have been substantial changes in the positions of hedge funds and institutional investors in Caesars Entertainment. With its strong presence in the gaming and hospitality industry, positive earnings results, and recent insider acquisitions, Caesars Entertainment continues to show promise as an investment opportunity in the market.