Caesars Entertainment, Inc. $CZR Position Increased by Tidal Investments LLC

Key Points

• Tidal Investments increased its Caesars Entertainment stake by 198.6% in the second quarter, adding 194,361 shares to hold 292,248 shares worth approximately $8.82 million. Institutional investors and hedge funds own 91.79% of the company.
• Caesars insiders sold 301,540 shares worth about $8.94 million over the past quarter, including substantial sales by the CFO and CMO.
• Analyst sentiment is mostly cautious: Caesars has a consensus “Hold” rating and a $30.71 price target. The company recently missed quarterly EPS estimates despite reporting $2.99 billion in revenue, up 3% year over year.

Tidal Investments LLC increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 198.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,248 shares of the company's stock after acquiring an additional 194,361 shares during the quarter. Tidal Investments LLC owned approximately 0.14% of Caesars Entertainment worth $8,820,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its holdings in shares of Caesars Entertainment by 1.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company's stock worth $827,000 after acquiring an additional 363 shares during the period. Corient Private Wealth LLC boosted its position in shares of Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company's stock worth $459,000 after buying an additional 549 shares during the period. Sunbelt Securities Inc. grew its holdings in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after buying an additional 672 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Caesars Entertainment by 9.1% in the third quarter. Ancora Advisors LLC now owns 8,417 shares of the company's stock worth $227,000 after purchasing an additional 700 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock valued at $50,000 after buying an additional 702 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caesars Entertainment

In related news, CFO Bret Yunker sold 208,134 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Josh Jones sold 59,507 shares of the business'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 value of $1,768,548.04. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 301,540 shares of company stock worth $8,937,904. Insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CZR. Zacks Research cut Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Stifel Nicolaus downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Monday, June 15th. JPMorgan Chase & Co. restated a "neutral" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Truist Financial downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their price target for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Finally, TD Cowen lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 29th. Two investment 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. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of "Hold" and a consensus price target of $30.71.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $29.67 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The firm has a fifty day simple moving average of $29.81 and a 200-day simple moving average of $28.35. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.01 and a beta of 1.75. 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 posted its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah's, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.

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