Caesars Acquisition Company (NASDAQ:CACQ) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, July 25th.
Caesars Acquisition (NASDAQ CACQ) traded up 1.32% during midday trading on Tuesday, reaching $19.20. 144,089 shares of the company were exchanged. The firm’s 50-day moving average price is $19.50 and its 200 day moving average price is $17.07. Caesars Acquisition has a 52-week low of $10.00 and a 52-week high of $20.75. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 4.43 and a beta of 0.59.
In other Caesars Acquisition news, CFO Craig Justin Abrahams sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $19.66, for a total transaction of $393,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of CACQ. Victory Capital Management Inc. raised its stake in Caesars Acquisition by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,765 shares of the company’s stock worth $129,000 after buying an additional 1,012 shares during the period. FNY Partners Fund LP bought a new stake in Caesars Acquisition during the second quarter worth about $142,000. MARSHALL WACE ASIA Ltd bought a new stake in Caesars Acquisition during the first quarter worth about $166,000. Marshall Wace North America L.P. bought a new stake in Caesars Acquisition during the first quarter worth about $166,000. Finally, BNP Paribas Arbitrage SA raised its stake in Caesars Acquisition by 249.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,297 shares of the company’s stock worth $177,000 after buying an additional 6,640 shares during the period. 56.05% of the stock is owned by institutional investors and hedge funds.
About Caesars Acquisition
Caesars Acquisition Company (CAC) owns voting membership units of Caesars Growth Partners, LLC (CGP LLC), a joint venture between CAC and subsidiaries of Caesars Entertainment Corporation (CEC or Caesars Entertainment). CAC serves as CGP LLC’s managing member and sole holder of its outstanding voting units.
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