Future Fund LLC reduced its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR – Free Report) by 14.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,791 shares of the company’s stock after selling 964 shares during the quarter. Caesars Entertainment makes up about 0.9% of Future Fund LLC’s holdings, making the stock its 9th biggest holding. Future Fund LLC’s holdings in Caesars Entertainment were worth $283,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CZR. Norges Bank bought a new stake in Caesars Entertainment during the 4th quarter valued at $112,358,000. Point Break Capital Management LLC raised its holdings in Caesars Entertainment by 10.3% in the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock worth $821,396,000 after purchasing an additional 987,230 shares in the last quarter. Wolf Hill Capital Management LP raised its holdings in Caesars Entertainment by 141.3% in the 1st quarter. Wolf Hill Capital Management LP now owns 1,539,986 shares of the company’s stock worth $75,167,000 after purchasing an additional 901,884 shares in the last quarter. BlackRock Inc. raised its holdings in Caesars Entertainment by 3.9% in the 1st quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock worth $880,465,000 after purchasing an additional 676,512 shares in the last quarter. Finally, Dendur Capital LP raised its holdings in Caesars Entertainment by 535.3% in the 4th quarter. Dendur Capital LP now owns 794,077 shares of the company’s stock worth $33,034,000 after purchasing an additional 669,077 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.
Insider Activity at Caesars Entertainment
In other news, CEO Thomas Reeg acquired 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were bought at an average cost of $49.43 per share, with a total value of $370,725.00. Following the transaction, the chief executive officer now owns 17,500 shares of the company’s stock, valued at approximately $865,025. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Stephanie Lepori sold 33,282 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $51.70, for a total transaction of $1,720,679.40. Following the sale, the chief accounting officer now owns 41,910 shares of the company’s stock, valued at approximately $2,166,747. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Reeg purchased 7,500 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were bought at an average cost of $49.43 per share, for a total transaction of $370,725.00. Following the acquisition, the chief executive officer now owns 17,500 shares in the company, valued at $865,025. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Caesars Entertainment Stock Up 1.4 %
CZR stock traded up $0.75 during trading on Tuesday, hitting $54.19. 290,427 shares of the stock traded hands, compared to its average volume of 2,787,626. Caesars Entertainment, Inc. has a 1 year low of $31.31 and a 1 year high of $60.27. The firm’s 50 day moving average is $54.30 and its two-hundred day moving average is $48.94. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 16.86 and a beta of 2.91. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.78 and a quick ratio of 0.76.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.33 by $0.49. Caesars Entertainment had a net margin of 6.03% and a return on equity of 5.71%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.86 billion. On average, sell-side analysts anticipate that Caesars Entertainment, Inc. will post 1.36 EPS for the current year.
About Caesars Entertainment
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company owns, leases, or manages domestic properties in 16 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 sports wagering across 28 jurisdictions in North America, including mobile for sports betting and regulated online real money gaming in six jurisdictions in North America; retail and online gaming and sports betting; and other games, such as keno.
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