Jupiter Topco LLC Takes Position in Caesars Entertainment, Inc. $CZR

Key Points

• Jupiter Topco LLC initiated a position in Caesars Entertainment during the second quarter, purchasing 90,412 shares valued at approximately $2.73 million. Institutional investors collectively own 91.79% of the company.
• Caesars shares opened at $29.69, near their 12-month high of $30.88. The company reported quarterly revenue of $2.99 billion, up 3% year over year, but missed earnings expectations with a loss of $0.30 per share.
• Analyst sentiment is cautious: Caesars has an average “Hold” rating and a $30.71 price target, while insiders sold 540,003 shares worth roughly $15.94 million over the past three months.

Jupiter Topco LLC bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,412 shares of the company's stock, valued at approximately $2,730,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its stake in Caesars Entertainment by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company's stock valued at $827,000 after purchasing an additional 363 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company's stock worth $459,000 after purchasing an additional 549 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of 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 purchasing an additional 672 shares during the period. Ancora Advisors LLC lifted its holdings in shares of Caesars Entertainment by 9.1% during 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 during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Caesars Entertainment by 59.5% in the first 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 last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Insider Activity

In related news, Director Michael E. Pegram sold 16,897 shares of Caesars Entertainment stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Josh Jones sold 59,507 shares of the stock in a transaction 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 540,003 shares of company stock valued at $15,941,145 in the last three months. Corporate insiders own 1.18% of the company's stock.

Caesars Entertainment Trading Up 0.1%

Shares of NASDAQ:CZR opened at $29.69 on Thursday. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a market capitalization of $6.05 billion, a PE ratio of -13.02 and a beta of 1.75. The business has a 50 day moving average of $29.89 and a two-hundred day moving average of $27.93. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.39) EPS. As a group, analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CZR shares. Capital One Financial downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Texas Capital downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Caesars Entertainment in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $30.71.

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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