ING Groep NV Sells 265,854 Shares of Caesars Entertainment, Inc. $CZR

ING Groep NV reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 44.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 334,000 shares of the company’s stock after selling 265,854 shares during the quarter. ING Groep NV’s holdings in Caesars Entertainment were worth $7,812,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CZR. AQR Capital Management LLC lifted its stake in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after purchasing an additional 12,698 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after purchasing an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Caesars Entertainment by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after purchasing an additional 826,356 shares during the last quarter. Woodline Partners LP lifted its stake in Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after purchasing an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after purchasing an additional 3,198 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael E. Pegram sold 55,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.18% of the stock is owned by corporate insiders.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $29.20 on Monday. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The company’s 50-day moving average is $27.56 and its 200 day moving average is $24.88. The stock has a market capitalization of $5.95 billion, a P/E ratio of -12.32 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the firm earned ($0.54) EPS. Caesars Entertainment’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on CZR shares. Citizens Jmp boosted their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Texas Capital downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Jefferies Financial Group boosted their price target on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, April 6th. Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment has an average rating of “Hold” and a consensus target price of $32.80.

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.