Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 42.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,077 shares of the company’s stock after purchasing an additional 145,201 shares during the period. Hsbc Holdings PLC owned 0.22% of Caesars Entertainment worth $19,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CZR. Capital Research Global Investors increased its stake in Caesars Entertainment by 26.9% during the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP raised its stake in shares of Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 shares during the period. Helikon Investments Ltd purchased a new stake in Caesars Entertainment in the second quarter valued at approximately $37,763,000. Finally, Capital World Investors increased its holdings in Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JMP Securities increased their price target on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Morgan Stanley decreased their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Susquehanna reiterated a “negative” rating and set a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $41.45 on Monday. The firm’s 50-day moving average is $37.00 and its two-hundred day moving average is $37.86. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The stock has a market capitalization of $8.97 billion, a P/E ratio of 11.74 and a beta of 2.96. Caesars Entertainment, Inc. has a 12-month low of $31.74 and a 12-month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts predict that Caesars Entertainment, Inc. will post 0.06 earnings per share for the current year.

Caesars Entertainment Profile

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.