Maven Securities LTD Purchases New Position in Caesars Entertainment, Inc. $CZR

Key Points

• Maven Securities acquired 283,136 Caesars Entertainment shares worth approximately $8.5 million, giving it a 0.14% stake. Institutional investors collectively own 91.79% of the company.
• Caesars reported a quarterly loss of $0.30 per share, missing estimates by $0.35, although revenue rose 3% year over year to $2.99 billion.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating with an average price target of $30.71, while insiders sold roughly $10.2 million in shares over the past 90 days.

Maven Securities LTD acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 283,136 shares of the company's stock, valued at approximately $8,545,000. Maven Securities LTD owned approximately 0.14% of Caesars Entertainment at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted 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 valued at $827,000 after purchasing an additional 363 shares during the last quarter. Corient Private Wealth LLC grew its stake in Caesars Entertainment by 3.5% during the 2nd 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 last quarter. Sunbelt Securities Inc. increased its position 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 period. Ancora Advisors LLC increased its position in 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 buying an additional 700 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake 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. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $29.66 on Wednesday. The stock has a fifty day moving average price of $29.85 and a 200 day moving average price of $28.23. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The company has a market cap of $6.04 billion, a PE ratio of -13.01 and a beta of 1.75.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted ($0.39) earnings per share. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Insider Activity

In related news, Director Michael E. Pegram sold 16,897 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Josh Jones sold 59,507 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 343,237 shares of company stock worth $10,166,546 in the last ninety days. 1.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research downgraded Caesars Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Wells Fargo & Company increased their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 2nd. Barclays reissued an "equal weight" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Finally, Truist Financial cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their target price for the company from $32.00 to $31.00 in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.