Engine Capital Management LP Has $19.54 Million Position in Caesars Entertainment, Inc. $CZR

Key Points

• Engine Capital Management trimmed its Caesars Entertainment stake by 8.1% in the fourth quarter, but it still owned 835,231 shares worth about $19.5 million, making CZR its 11th-largest position.
• Caesars posted a quarterly loss of $0.48 per share, wider than Wall Street expected, though revenue came in slightly above estimates at $2.87 billion and rose 2.7% year over year.
• Analyst sentiment remains cautious: the stock has an average Hold rating and a consensus price target of $32.53, while recent insider selling added to mixed signals around the name.

Engine Capital Management LP lowered its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 835,231 shares of the company's stock after selling 73,859 shares during the quarter. Caesars Entertainment accounts for about 2.7% of Engine Capital Management LP's investment portfolio, making the stock its 11th biggest position. Engine Capital Management LP owned about 0.41% of Caesars Entertainment worth $19,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CZR. Caitong International Asset Management Co. Ltd grew its stake in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after buying an additional 918 shares during the last quarter. Sunbelt Securities Inc. grew its stake in 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 buying an additional 672 shares during the last quarter. CoreCap Advisors LLC grew its stake in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock worth $37,000 after buying an additional 488 shares during 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 buying an additional 846 shares during the last quarter. Finally, Stance Capital LLC bought a new stake in Caesars Entertainment during the third quarter worth about $43,000. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $29.21 on Thursday. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $31.58. The stock has a market cap of $5.95 billion, a PE ratio of -12.32 and a beta of 1.77. 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 firm's 50 day moving average price is $28.05 and its two-hundred day moving average price is $25.34.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). The business 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%. Caesars Entertainment's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.54) earnings per share. As a group, analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

CZR has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Susquehanna upgraded shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a research report on Friday, May 29th. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.53.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction 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 sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 293,463 shares of company stock worth $8,609,241. Company insiders own 1.18% of the company's stock.

About Caesars Entertainment

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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