Panagora Asset Management Inc. Takes Position in Caesars Entertainment Co. (NASDAQ:CZR)

Panagora Asset Management Inc. acquired a new stake in Caesars Entertainment Co. (NASDAQ:CZR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 73,824 shares of the company’s stock, valued at approximately $873,000.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in Caesars Entertainment by 44.7% during the first quarter. First Trust Advisors LP now owns 637,174 shares of the company’s stock worth $5,537,000 after acquiring an additional 196,890 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Caesars Entertainment during the fourth quarter worth $232,000. Jabodon PT Co. acquired a new position in Caesars Entertainment during the first quarter worth $4,270,000. Legal & General Group Plc raised its holdings in Caesars Entertainment by 7.1% during the fourth quarter. Legal & General Group Plc now owns 165,544 shares of the company’s stock worth $1,124,000 after buying an additional 10,926 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Caesars Entertainment during the first quarter worth $28,000.

Several research analysts have weighed in on CZR shares. Deutsche Bank restated a “buy” rating and set a $13.00 price objective on shares of Caesars Entertainment in a report on Wednesday, August 7th. SunTrust Banks downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price objective on the stock. in a report on Tuesday, June 25th. Nomura downgraded shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a report on Tuesday, June 25th. Morgan Stanley downgraded shares of Caesars Entertainment from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $11.00 to $12.50 in a report on Tuesday, June 25th. Finally, BidaskClub downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.08.

Shares of CZR stock traded up $0.09 on Wednesday, hitting $11.58. The stock had a trading volume of 281,579 shares, compared to its average volume of 13,656,144. The business has a 50 day moving average of $11.80 and a 200 day moving average of $9.90. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of -61.00 and a beta of 1.40. The company has a debt-to-equity ratio of 6.69, a current ratio of 1.15 and a quick ratio of 1.13. Caesars Entertainment Co. has a 12-month low of $5.84 and a 12-month high of $12.23.

In other news, VP Les Ottolenghi sold 17,375 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.49, for a total value of $199,638.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.51% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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