Contravisory Investment Management Inc. Invests $453,000 in Caesars Entertainment, Inc. (NASDAQ:CZR)

Contravisory Investment Management Inc. purchased a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,895 shares of the company’s stock, valued at approximately $453,000.

A number of other institutional investors also recently made changes to their positions in CZR. Czech National Bank raised its holdings in shares of Caesars Entertainment by 0.8% in the 2nd quarter. Czech National Bank now owns 25,486 shares of the company’s stock worth $1,299,000 after purchasing an additional 209 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Caesars Entertainment by 48.2% in the 2nd quarter. SG Americas Securities LLC now owns 32,608 shares of the company’s stock worth $1,662,000 after purchasing an additional 10,604 shares in the last quarter. Prelude Capital Management LLC raised its holdings in shares of Caesars Entertainment by 25.7% in the 1st quarter. Prelude Capital Management LLC now owns 49,728 shares of the company’s stock worth $2,427,000 after purchasing an additional 10,172 shares in the last quarter. Macquarie Group Ltd. increased its stake in Caesars Entertainment by 37.4% in the 1st quarter. Macquarie Group Ltd. now owns 15,630 shares of the company’s stock valued at $763,000 after buying an additional 4,253 shares during the period. Finally, Aspire Private Capital LLC increased its stake in Caesars Entertainment by 228.7% in the 1st quarter. Aspire Private Capital LLC now owns 1,318 shares of the company’s stock valued at $64,000 after buying an additional 917 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caesars Entertainment

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 completion of the transaction, the chief accounting officer now directly owns 41,910 shares of the company’s stock, valued at approximately $2,166,747. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CZR has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Caesars Entertainment from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday. Wells Fargo & Company upped their price objective on shares of Caesars Entertainment from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Barclays boosted their target price on shares of Caesars Entertainment from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, September 7th. Susquehanna raised shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $39.00 in a research report on Thursday, May 25th. Finally, Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $68.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $50.98 on Tuesday. 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, Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $60.27. The firm has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $49.00. The company has a market cap of $10.98 billion, a PE ratio of 16.08 and a beta of 2.91.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.49. Caesars Entertainment had a net margin of 6.03% and a return on equity of 5.71%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.86 billion. Analysts expect 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.