BidaskClub Lowers Caesars Acquisition Company (CACQ) to Hold

Caesars Acquisition Company (NASDAQ:CACQ) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, July 25th.

Shares of Caesars Acquisition (NASDAQ CACQ) traded up 1.32% during midday trading on Tuesday, hitting $19.20. 144,089 shares of the stock were exchanged. The firm has a market cap of $2.67 billion, a P/E ratio of 4.43 and a beta of 0.59. Caesars Acquisition has a 12-month low of $10.00 and a 12-month high of $20.75. The firm has a 50 day moving average of $19.50 and a 200 day moving average of $17.07.

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In related news, CFO Craig Justin Abrahams sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $19.66, for a total value of $393,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in CACQ. Victory Capital Management Inc. boosted 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 valued at $129,000 after buying an additional 1,012 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Caesars Acquisition during the second quarter valued at approximately $142,000. MARSHALL WACE ASIA Ltd purchased a new stake in Caesars Acquisition during the first quarter valued at approximately $166,000. Marshall Wace North America L.P. purchased a new stake in Caesars Acquisition during the first quarter valued at approximately $166,000. Finally, BNP Paribas Arbitrage SA boosted 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 valued at $177,000 after buying an additional 6,640 shares during the last quarter. Hedge funds and other institutional investors own 56.05% of the company’s stock.

Caesars Acquisition Company Profile

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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