Connor Clark & Lunn Investment Management Ltd. Buys Shares of 833,074 Caesars Entertainment, Inc. $CZR

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 833,074 shares of the company’s stock, valued at approximately $25,142,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Caesars Entertainment at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its holdings in shares of Caesars Entertainment by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after purchasing an additional 363 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Caesars Entertainment by 1.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after purchasing an additional 493 shares during the last quarter. Corient Private Wealth LLC boosted its position in Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after buying an additional 549 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Caesars Entertainment by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after buying an additional 562 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. TD Cowen lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 29th. Capital One Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Finally, Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.71.

Insider Activity

In other news, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares of the company’s stock, valued at $536,019.05. This represents a 81.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 561,104 shares of company stock valued at $16,542,718. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR opened at $29.66 on Tuesday. The business has a 50-day moving average of $29.84 and a 200-day moving average of $27.48. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -13.01 and a beta of 1.77. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company earned ($0.39) earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.