Other equities analysts also recently issued reports about the company. Bank of America cut their target price on Caesars Entertainment from $14.00 to $13.00 and set a buy rating on the stock in a research report on Thursday, August 2nd. Deutsche Bank started coverage on Caesars Entertainment in a research report on Tuesday, September 4th. They issued a buy rating and a $14.00 target price on the stock. Jefferies Financial Group set a $11.00 target price on Caesars Entertainment and gave the company a hold rating in a research report on Thursday, August 2nd. ValuEngine raised Caesars Entertainment from a sell rating to a hold rating in a research report on Monday, July 16th. Finally, Zacks Investment Research raised Caesars Entertainment from a sell rating to a hold rating in a research report on Tuesday, July 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $13.10.
Shares of CZR stock traded up $0.68 during trading hours on Thursday, reaching $9.53. 39,526,715 shares of the company’s stock were exchanged, compared to its average volume of 26,138,532. The company has a market cap of $6.61 billion, a PE ratio of 95.30 and a beta of 0.81. The company has a current ratio of 1.98, a quick ratio of 1.96 and a debt-to-equity ratio of 5.52. Caesars Entertainment has a fifty-two week low of $7.95 and a fifty-two week high of $14.50.
In other news, Director John M. Boushy bought 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average cost of $9.95 per share, with a total value of $99,500.00. Following the purchase, the director now directly owns 46,139 shares in the company, valued at approximately $459,083.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher J. Holdren bought 5,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost of $9.85 per share, for a total transaction of $49,250.00. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System boosted its stake in shares of Caesars Entertainment by 84.5% during the 2nd quarter. California Public Employees Retirement System now owns 594,800 shares of the company’s stock worth $6,364,000 after acquiring an additional 272,461 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $181,000. Bank of New York Mellon Corp boosted its stake in shares of Caesars Entertainment by 113.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,334,380 shares of the company’s stock worth $14,278,000 after acquiring an additional 709,373 shares in the last quarter. Long Pond Capital LP boosted its stake in shares of Caesars Entertainment by 6.2% during the 2nd quarter. Long Pond Capital LP now owns 23,450,216 shares of the company’s stock worth $250,917,000 after acquiring an additional 1,368,988 shares in the last quarter. Finally, Family Management Corp purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $261,000.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
Further Reading: Fundamental Analysis
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