Cooper Creek Partners Management LLC Has $22.82 Million Stock Holdings in Caesars Entertainment, Inc. $CZR

Key Points

• Cooper Creek Partners Management cut its Caesars Entertainment stake by 72.8% in the first quarter, selling more than 2.3 million shares and leaving it with 863,331 shares worth about $22.8 million.
• Caesars shares were trading near their 52-week high at $29.94, with the company carrying a relatively high debt-to-equity ratio of 3.25 and a market value of about $6.1 billion.
• The company’s latest earnings missed EPS expectations even though revenue came in slightly above forecasts, and analysts currently rate the stock a Hold on average with a $31 price target.

Cooper Creek Partners Management LLC decreased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 72.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863,331 shares of the company's stock after selling 2,306,885 shares during the period. Cooper Creek Partners Management LLC owned 0.42% of Caesars Entertainment worth $22,818,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Caesars Entertainment by 47.7% during the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company's stock worth $953,000 after buying an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company's stock valued at $496,000 after acquiring an additional 1,623 shares during the period. Goldman Sachs Group Inc. boosted its stake in Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company's stock worth $39,982,000 after acquiring an additional 826,356 shares in the last quarter. Woodline Partners LP boosted its stake in Caesars Entertainment by 40.7% during the first quarter. Woodline Partners LP now owns 17,952 shares of the company's stock worth $449,000 after acquiring an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company's stock worth $12,665,000 after purchasing an additional 3,198 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Trading Up 0.1%

Shares of CZR stock opened at $29.94 on Friday. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a 50-day simple moving average of $29.43 and a two-hundred day simple moving average of $26.47. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76.

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

Analysts Set New Price Targets

CZR has been the topic of several research reports. Wall Street Zen upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Wells Fargo & Company upped their price target on Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 2nd. Texas Capital cut Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Capital One Financial downgraded Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Stifel Nicolaus lowered 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. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.00.

Insider Buying and Selling

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 18,263 shares of the company's stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The disclosure for this sale is available in the SEC filing. 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 currently owned by company insiders.

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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