Nykredit A S Purchases Shares of 297,397 Caesars Entertainment, Inc. $CZR

Key Points

• Nykredit A/S bought 297,397 Caesars Entertainment shares worth approximately $8.98 million in the second quarter, while institutional investors collectively own 91.79% of CZR.
• Caesars reported second-quarter revenue of $2.99 billion, up 3% year over year and slightly above estimates, but its $0.30 per-share loss significantly missed expectations.
• The stock remains supported by takeover speculation involving Fertitta Entertainment, although an FTC “second request” may delay regulatory approval. Analysts maintain a consensus “Hold” rating with an average price target of $30.71.

Nykredit A S purchased a new position in shares of 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 (SEC). The firm purchased 297,397 shares of the company's stock, valued at approximately $8,975,000. Nykredit A S owned approximately 0.15% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP purchased a new position in Caesars Entertainment in the 2nd quarter worth $25,000. Parkside Financial Bank & Trust boosted its position in Caesars Entertainment by 310.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company's stock valued at $32,000 after buying an additional 811 shares during the period. Ancora Advisors LLC purchased a new stake in Caesars Entertainment during the second quarter valued at about $53,000. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after buying an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Caesars Entertainment by 59.5% during 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. 91.79% of the stock is currently owned by institutional investors.

Insider Transactions at Caesars Entertainment

In related news, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $29.72, for a total transaction of $1,768,548.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Janis Jones Blackhurst sold 33,899 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total value of $1,004,427.37. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 322,682 shares of company stock worth $9,565,403. 1.18% of the stock is owned by company insiders.

Caesars Entertainment Stock Performance

Shares of CZR opened at $29.64 on Monday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The firm's 50-day moving average price is $29.77 and its 200-day moving average price is $28.64. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -13.00 and a beta of 1.75.

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

More Caesars Entertainment News

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: The Fertitta Entertainment buyout provides a potential valuation floor and remains a source of takeover-related support for Caesars Entertainment (CZR). FTC Requests Additional Information Regarding Fertitta, Caesars Merger
• Neutral Sentiment: The Federal Trade Commission issued a “second request” for additional information about the Fertitta transaction. This extends the regulatory review and could delay closing, but it does not mean the deal has been rejected. Caesars Entertainment Says FTC Issued Second Request Related to Acquisition by Fertitta Entertainment
• Neutral Sentiment: Caesars’ second-quarter results showed revenue of approximately $2.99 billion, slightly above expectations and up 3% year over year, but the company recorded a larger-than-expected loss per share. The mixed operating performance limits fundamental upside while the acquisition remains unresolved. Q2 Earnings Highs And Lows: Caesars Entertainment
• Negative Sentiment: Shareholder-investigation notices from Brodsky & Smith add headline and litigation risk, although the announcement contains no specific finding of wrongdoing. Brodsky & Smith Shareholder Update
• Negative Sentiment: Director David Tomick sold a combined 14,142 shares for roughly $420,000, reducing his holdings materially. Insider selling is not necessarily a signal of deteriorating fundamentals, but it can weigh on sentiment near the stock’s recent highs. David Tomick Sells Shares of Caesars Entertainment Stock

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Texas Capital lowered Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Susquehanna raised Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Finally, TD Cowen downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of "Hold" and a consensus price target of $30.71.

Caesars Entertainment Profile

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah's, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.

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