FrontFour Capital Group LLC Sells 4,116 Shares of Caesars Entertainment Co. (CZR)

FrontFour Capital Group LLC lowered its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,016,372 shares of the company’s stock after selling 4,116 shares during the quarter. Caesars Entertainment makes up about 6.1% of FrontFour Capital Group LLC’s investment portfolio, making the stock its 7th largest holding. FrontFour Capital Group LLC’s holdings in Caesars Entertainment were worth $6,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Caesars Entertainment by 113.5% in 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 purchasing an additional 709,373 shares in the last quarter. First Trust Advisors LP purchased a new stake in Caesars Entertainment in the 3rd quarter worth $217,000. Victory Capital Management Inc. lifted its stake in Caesars Entertainment by 35.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,214,178 shares of the company’s stock worth $12,445,000 after purchasing an additional 316,808 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Caesars Entertainment in the 3rd quarter worth $416,000. Finally, Eagle Asset Management Inc. lifted its stake in Caesars Entertainment by 153.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 712,266 shares of the company’s stock worth $7,300,000 after purchasing an additional 431,443 shares in the last quarter.

Several brokerages have recently issued reports on CZR. Zacks Investment Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, March 1st. BidaskClub cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Deutsche Bank restated a “buy” rating and set a $11.00 target price on shares of Caesars Entertainment in a research report on Monday, February 25th. Bank of America cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.75 to $9.00 in a research report on Wednesday, January 16th. Finally, UBS Group upgraded shares of Caesars Entertainment from a “sell” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $7.00 in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Caesars Entertainment currently has an average rating of “Hold” and an average target price of $11.75.

In other news, Director Don R. Kornstein purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average cost of $7.00 per share, for a total transaction of $140,000.00. Following the acquisition, the director now owns 78,552 shares of the company’s stock, valued at approximately $549,864. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Les Ottolenghi sold 17,240 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.74, for a total transaction of $150,677.60. The disclosure for this sale can be found here. Insiders have sold a total of 97,460 shares of company stock worth $840,337 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.

Shares of NASDAQ CZR opened at $8.08 on Friday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.11 and a current ratio of 1.13. The stock has a market cap of $5.41 billion, a PE ratio of -42.53 and a beta of 1.20. Caesars Entertainment Co. has a 12-month low of $5.84 and a 12-month high of $13.54.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Thursday, February 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Caesars Entertainment had a net margin of 3.61% and a negative return on equity of 4.12%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.48 earnings per share. As a group, sell-side analysts expect that Caesars Entertainment Co. will post -0.35 EPS for the current year.

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About Caesars Entertainment

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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