Athos Capital Ltd Takes Position in Caesars Entertainment, Inc. $CZR

Key Points

• Athos Capital initiated a $10.78 million position in Caesars Entertainment during the second quarter, purchasing 357,178 shares, or approximately 0.18% of the company. Institutional investors collectively own 91.79% of Caesars.
• Caesars reported quarterly revenue of $2.99 billion, up 3% year over year and slightly above estimates, but posted an adjusted loss of $0.30 per share versus the expected $0.05 profit.
• Analyst sentiment is mostly cautious, with Caesars holding an average “Hold” rating and a $30.71 consensus price target. Insiders have also sold 561,104 shares worth about $16.5 million over the past 90 days.

Athos Capital Ltd bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 357,178 shares of the company's stock, valued at approximately $10,780,000. Caesars Entertainment comprises about 3.8% of Athos Capital Ltd's holdings, making the stock its 9th largest position. Athos Capital Ltd owned 0.18% of Caesars Entertainment at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CZR. Allworth Financial LP bought a new position in shares of Caesars Entertainment in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock worth $42,000 after purchasing an additional 846 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Caesars Entertainment by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $29.76 on Monday. The company has a fifty day moving average price of $29.84 and a 200-day moving average price of $27.41. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of -13.05 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter last year, the firm posted ($0.39) earnings per share. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CZR has been the subject of several recent analyst reports. Raymond James Financial downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Texas Capital lowered Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. TD Cowen cut Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 29th. Truist Financial downgraded Caesars Entertainment from a "buy" rating to a "hold" rating and decreased their price objective for the company from $32.00 to $31.00 in a report on Friday, May 29th. Finally, Capital One Financial lowered Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of "Hold" and a consensus target price of $30.71.

Insiders Place Their Bets

In other news, CMO Josh Jones sold 59,507 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $29.72, for a total transaction of $1,768,548.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the transaction, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 561,104 shares of company stock worth $16,542,718 over the last 90 days. Company insiders own 1.18% of the company's stock.

Caesars Entertainment Company 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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