Silver Point Capital L.P. Decreases Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Silver Point Capital L.P. trimmed its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 76.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,516 shares of the company’s stock after selling 386,484 shares during the period. Caesars Entertainment makes up approximately 1.1% of Silver Point Capital L.P.’s portfolio, making the stock its 9th biggest holding. Silver Point Capital L.P.’s holdings in Caesars Entertainment were worth $10,364,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of Caesars Entertainment by 33.3% in the first quarter. Janus Henderson Group PLC now owns 4,656,892 shares of the company’s stock worth $407,245,000 after purchasing an additional 1,163,085 shares during the last quarter. Geode Capital Management LLC grew its position in Caesars Entertainment by 40.8% during the first quarter. Geode Capital Management LLC now owns 4,417,604 shares of the company’s stock valued at $385,791,000 after acquiring an additional 1,279,033 shares during the last quarter. Northern Trust Corp grew its position in Caesars Entertainment by 3.6% during the first quarter. Northern Trust Corp now owns 2,900,792 shares of the company’s stock valued at $253,676,000 after acquiring an additional 101,115 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Caesars Entertainment by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,037,422 shares of the company’s stock valued at $151,320,000 after acquiring an additional 206,361 shares during the last quarter. Finally, Norges Bank bought a new position in Caesars Entertainment during the fourth quarter valued at approximately $132,892,000. Institutional investors own 92.87% of the company’s stock.

CZR stock traded down $1.58 on Thursday, reaching $92.41. The company’s stock had a trading volume of 59,985 shares, compared to its average volume of 3,525,246. The company has a fifty day moving average price of $102.25. Caesars Entertainment, Inc. has a 12-month low of $29.06 and a 12-month high of $113.46. The company has a quick ratio of 2.60, a current ratio of 2.62 and a debt-to-equity ratio of 5.71.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, May 4th. The company reported ($2.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.34). Caesars Entertainment had a negative return on equity of 53.13% and a negative net margin of 42.64%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned $0.28 EPS. The business’s revenue was up 259.2% compared to the same quarter last year. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -2.45 earnings per share for the current year.

CZR has been the topic of a number of recent research reports. Redburn Partners initiated coverage on shares of Caesars Entertainment in a research report on Tuesday, April 27th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Caesars Entertainment from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Wednesday. KeyCorp increased their price target on shares of Caesars Entertainment from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. TheStreet upgraded shares of Caesars Entertainment from a “d+” rating to a “c” rating in a research report on Monday, May 24th. Finally, Truist Securities increased their price target on shares of Caesars Entertainment from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $103.50.

In related news, Director Bonnie Biumi sold 10,000 shares of the firm’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $105.50, for a total value of $1,055,000.00. Following the completion of the sale, the director now owns 10,183 shares of the company’s stock, valued at $1,074,306.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephanie Lepori sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $107.49, for a total value of $268,725.00. Following the completion of the sale, the chief accounting officer now directly owns 25,242 shares of the company’s stock, valued at approximately $2,713,262.58. The disclosure for this sale can be found here. Insiders sold 42,520 shares of company stock valued at $4,337,379 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Caesars Entertainment Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos, including poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also offers staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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