Bank of New York Mellon Corp Grows Position in Caesars Entertainment Corporation (CZR)

Bank of New York Mellon Corp lifted its stake in Caesars Entertainment Corporation (NASDAQ:CZR) by 619.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,920,538 shares of the company’s stock after buying an additional 1,653,439 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Caesars Entertainment worth $25,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in Caesars Entertainment by 88.0% during the second quarter. BNP Paribas Arbitrage SA now owns 10,449 shares of the company’s stock worth $125,000 after purchasing an additional 4,892 shares during the period. Quantbot Technologies LP lifted its stake in Caesars Entertainment by 647.9% during the second quarter. Quantbot Technologies LP now owns 12,116 shares of the company’s stock worth $145,000 after purchasing an additional 10,496 shares during the period. Airain ltd bought a new position in Caesars Entertainment during the second quarter worth about $161,000. Stevens Capital Management LP bought a new position in Caesars Entertainment during the third quarter worth about $185,000. Finally, Voya Investment Management LLC lifted its stake in Caesars Entertainment by 19.8% during the second quarter. Voya Investment Management LLC now owns 26,916 shares of the company’s stock worth $323,000 after purchasing an additional 4,449 shares during the period. Institutional investors and hedge funds own 20.47% of the company’s stock.

Shares of Caesars Entertainment Corporation (NASDAQ:CZR) opened at $12.50 on Wednesday. The company has a debt-to-equity ratio of -1.69, a quick ratio of 0.48 and a current ratio of 0.48. Caesars Entertainment Corporation has a fifty-two week low of $7.05 and a fifty-two week high of $13.60.

Several analysts have recently weighed in on CZR shares. Oppenheimer reaffirmed a “buy” rating and set a $15.00 price objective on shares of Caesars Entertainment in a report on Thursday, November 30th. Zacks Investment Research lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub raised shares of Caesars Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Instinet started coverage on shares of Caesars Entertainment in a report on Friday, October 6th. They set a “neutral” rating and a $14.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.39.

In related news, EVP Janis L. Jones sold 26,131 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $12.86, for a total value of $336,044.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John M. Boushy purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average cost of $12.64 per share, with a total value of $252,800.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $252,800. The disclosure for this purchase can be found here. Company insiders own 5.80% of the company’s stock.

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About Caesars Entertainment

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

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