Gabelli Funds LLC Purchases New Stake in Caesars Entertainment Co. (CZR)

Gabelli Funds LLC purchased a new stake in Caesars Entertainment Co. (NASDAQ:CZR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 112,242 shares of the company’s stock, valued at approximately $762,000.

Other large investors have also recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. bought a new position in Caesars Entertainment during the third quarter worth $102,000. Lehman Financial Resources Inc. bought a new position in Caesars Entertainment during the third quarter worth $123,000. Oakbrook Investments LLC bought a new position in Caesars Entertainment during the third quarter worth $148,000. First Trust Advisors LP bought a new position in Caesars Entertainment during the third quarter worth $217,000. Finally, Oppenheimer Asset Management Inc. increased its position in Caesars Entertainment by 96.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,401 shares of the company’s stock worth $260,000 after acquiring an additional 12,490 shares during the period.

In other news, Director Don R. Kornstein bought 20,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, December 18th. The shares were bought at an average price of $7.00 per share, for a total transaction of $140,000.00. Following the purchase, the director now owns 78,552 shares of the company’s stock, valued at $549,864. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marco Roca sold 17,834 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total transaction of $146,417.14. The disclosure for this sale can be found here. Insiders acquired a total of 81,000 shares of company stock worth $585,190 in the last three months. Insiders own 0.92% of the company’s stock.

Shares of Caesars Entertainment stock opened at $9.32 on Friday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 93.20 and a beta of 1.31. The company has a debt-to-equity ratio of 5.93, a quick ratio of 1.14 and a current ratio of 1.16. Caesars Entertainment Co. has a 52-week low of $5.84 and a 52-week high of $13.54.

A number of equities analysts recently issued reports on CZR shares. BidaskClub lowered shares of Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Zacks Investment Research lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Deutsche Bank lowered their price target on shares of Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, January 7th. Bank of America lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $8.75 to $9.00 in a report on Wednesday, January 16th. Finally, Oppenheimer set a $15.00 price target on shares of Caesars Entertainment and gave the company a “buy” rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $12.00.

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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 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.

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