Caesars Entertainment (CZR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Caesars Entertainment (NASDAQ:CZR) from a hold rating to a sell rating in a research note released on Monday, December 4th.

According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “

A number of other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of Caesars Entertainment from a hold rating to a sell rating in a research report on Friday, December 1st. Oppenheimer reaffirmed a buy rating and set a $15.00 price objective on shares of Caesars Entertainment in a research report on Thursday, November 30th. BidaskClub cut shares of Caesars Entertainment from a hold rating to a sell rating in a research report on Tuesday, November 14th. Instinet started coverage on shares of Caesars Entertainment in a research report on Friday, October 6th. They issued a neutral rating and a $14.00 price target for the company. Finally, Nomura started coverage on shares of Caesars Entertainment in a research report on Friday, October 6th. They issued a neutral rating and a $14.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Caesars Entertainment presently has an average rating of Hold and a consensus target price of $14.39.

Caesars Entertainment (CZR) traded up $0.10 during trading on Monday, hitting $12.60. 10,037,035 shares of the stock traded hands, compared to its average volume of 3,827,095. The company has a debt-to-equity ratio of -1.69, a current ratio of 0.48 and a quick ratio of 0.48. Caesars Entertainment has a twelve month low of $7.05 and a twelve month high of $13.60.

In related news, EVP Janis L. Jones sold 26,131 shares of Caesars Entertainment stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $12.86, for a total transaction of $336,044.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John M. Boushy purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average price of $12.64 per share, for a total transaction of $252,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $252,800. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new stake in Caesars Entertainment during the 1st quarter worth $116,000. BNP Paribas Arbitrage SA raised its stake in Caesars Entertainment by 88.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,449 shares of the company’s stock worth $125,000 after acquiring an additional 4,892 shares in the last quarter. Quantbot Technologies LP raised its stake in Caesars Entertainment by 647.9% during the 2nd quarter. Quantbot Technologies LP now owns 12,116 shares of the company’s stock worth $145,000 after acquiring an additional 10,496 shares in the last quarter. Airain ltd acquired a new stake in Caesars Entertainment during the 2nd quarter worth $161,000. Finally, Stevens Capital Management LP acquired a new stake in Caesars Entertainment during the 3rd quarter worth $185,000. Hedge funds and other institutional investors own 20.47% of the company’s stock.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s resorts operate primarily under the Harrah’s, Caesars and Horseshoe brand names.

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