Hsbc Holdings PLC Decreases Stock Holdings in Caesars Entertainment, Inc. $CZR

Hsbc Holdings PLC reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 64.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 624,542 shares of the company’s stock after selling 1,121,665 shares during the quarter. Hsbc Holdings PLC’s holdings in Caesars Entertainment were worth $14,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC grew its holdings in shares of Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after purchasing an additional 493 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Caesars Entertainment by 3.5% during the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after buying an additional 549 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Caesars Entertainment by 1.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock valued at $959,000 after acquiring an additional 562 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in 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 acquiring an additional 672 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.

Caesars Entertainment Stock Up 2.7%

Shares of NASDAQ:CZR opened at $30.41 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -12.83 and a beta of 1.77. The stock’s 50-day moving average price is $28.39 and its two-hundred day moving average price is $25.60. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58.

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

Analyst Ratings Changes

CZR has been the topic of several recent research reports. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Citizens Jmp lifted their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Monday, June 15th. Finally, Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Hold” and a consensus price target of $32.53.

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.