683 Capital Management LLC Buys 54,000 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• 683 Capital Management LLC increased its stake in Caesars Entertainment by 28.4% in the fourth quarter, buying 54,000 more shares and bringing its total to 244,000 shares worth about $5.7 million.
• Caesars reported Q1 earnings of -$0.48 per share, missing analyst estimates, though revenue of $2.87 billion slightly beat expectations and rose 2.7% year over year.
• Sentiment on the stock remains mixed: analysts currently have an average “Hold” rating with a $32.53 price target, while insiders have recently sold a significant amount of shares.

683 Capital Management LLC increased its stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 28.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,000 shares of the company's stock after purchasing an additional 54,000 shares during the period. 683 Capital Management LLC owned 0.12% of Caesars Entertainment worth $5,707,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its stake in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after purchasing an additional 672 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after acquiring an additional 918 shares during the period. CoreCap Advisors LLC boosted its stake in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock worth $37,000 after acquiring an additional 488 shares during the last quarter. Stance Capital LLC bought a new position in Caesars Entertainment during the 3rd quarter worth approximately $43,000. Finally, Zions Bancorporation National Association UT grew its holdings in Caesars Entertainment by 5,384.4% during the third quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company's stock valued at $47,000 after purchasing an additional 1,723 shares during the period. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $29.21 on Thursday. The company has a fifty day moving average price of $28.05 and a 200 day moving average price of $25.34. The firm has a market cap of $5.95 billion, a PE ratio of -12.32 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.54) earnings per share. Research analysts predict that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna raised shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Caesars Entertainment in a report on Monday, May 18th. Citigroup boosted their price target on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Zacks Research raised shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Finally, Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.53.

Insider Activity

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares of the company's stock, valued at $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The SEC filing for this sale provides additional information. Insiders have sold 293,463 shares of company stock valued at $8,609,241 over the last ninety days. 1.18% of the stock is owned by insiders.

Caesars Entertainment Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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