Caesars Acquisition Company (CACQ) Downgraded to Buy at BidaskClub

Caesars Acquisition Company (NASDAQ:CACQ) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Caesars Acquisition Company (NASDAQ CACQ) traded down 2.01% on Tuesday, hitting $19.50. 50,455 shares of the company’s stock were exchanged. Caesars Acquisition Company has a 52-week low of $10.00 and a 52-week high of $20.75. The firm has a 50 day moving average price of $18.46 and a 200-day moving average price of $15.46. The stock has a market cap of $2.71 billion, a P/E ratio of 4.41 and a beta of 0.60.

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In related news, SVP Michael Daniel Cohen sold 10,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $17.68, for a total transaction of $176,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Craig Justin Abrahams sold 20,000 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Hanlon Investment Management Inc. purchased a new stake in shares of Caesars Acquisition Company during the fourth quarter valued at approximately $145,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Caesars Acquisition Company during the first quarter valued at approximately $166,000. Marshall Wace North America L.P. purchased a new stake in shares of Caesars Acquisition Company during the first quarter valued at approximately $166,000. Capstone Investment Advisors LLC purchased a new stake in shares of Caesars Acquisition Company during the fourth quarter valued at approximately $204,000. Finally, American International Group Inc. increased its stake in shares of Caesars Acquisition Company by 7.1% in the first quarter. American International Group Inc. now owns 29,337 shares of the company’s stock valued at $452,000 after buying an additional 1,943 shares during the period. 56.08% of the stock is currently owned by institutional investors.

About Caesars Acquisition Company

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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