Cyrus Capital Partners L.P. Invests $37.80 Million in Caesars Entertainment, Inc. $CZR

Key Points

• Cyrus Capital Partners acquired 1.43 million Caesars Entertainment shares worth approximately $37.8 million, giving it a 0.70% stake and making CZR its third-largest portfolio holding.
• Analyst sentiment is largely neutral: 16 analysts rate the stock “Hold,” with a consensus price target of $30.71, while several firms recently downgraded their ratings despite raising targets.
• Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but missed earnings expectations with a loss of $0.30 per share. The stock opened at $29.75, near its 52-week high, while insiders have sold more than 293,000 shares over the past 90 days.

Cyrus Capital Partners L.P. purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,430,000 shares of the company's stock, valued at approximately $37,795,000. Caesars Entertainment makes up approximately 19.3% of Cyrus Capital Partners L.P.'s investment portfolio, making the stock its 3rd biggest position. Cyrus Capital Partners L.P. owned 0.70% of Caesars Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CZR. Pictet Asset Management Holding SA increased its holdings in 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 buying an additional 363 shares in the last quarter. CoreCap Advisors LLC lifted 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 valued at $37,000 after acquiring an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Caesars Entertainment by 1.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company's stock valued at $1,220,000 after acquiring an additional 493 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Caesars Entertainment by 3.5% during the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company's stock valued at $459,000 after acquiring an additional 549 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Caesars Entertainment by 1.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company's stock valued at $959,000 after acquiring an additional 562 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. TD Cowen lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research note on Wednesday. Truist Financial downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Raymond James Financial cut shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Citigroup lifted their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company increased their price target on Caesars Entertainment from $26.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Caesars Entertainment presently has an average rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment Trading Up 0.5%

Caesars Entertainment stock opened at $29.75 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 market cap of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.76. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. The business has a 50-day simple moving average of $29.63 and a two-hundred day simple moving average of $26.68.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.39) EPS. Analysts predict that Caesars Entertainment, Inc. will post -0.75 EPS for the current year.

Insider Buying and Selling

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total transaction of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by corporate 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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