Mint Tower Capital Management B.V. Acquires Shares of 70,021 Caesars Entertainment, Inc. $CZR

Mint Tower Capital Management B.V. bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, HoldingsChannel reports. The institutional investor bought 70,021 shares of the company’s stock, valued at approximately $2,113,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Caesars Entertainment by 47.7% during the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after purchasing an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Caesars Entertainment by 8.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after buying an additional 1,623 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Caesars Entertainment by 106.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after buying an additional 826,356 shares during the last quarter. Woodline Partners LP boosted its position in Caesars Entertainment by 40.7% in the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after buying an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Caesars Entertainment by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after acquiring an additional 3,198 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $29.73 on Friday. 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 company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -13.04 and a beta of 1.77. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $30.88. The business has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $27.68.

Caesars Entertainment (NASDAQ:CZR) 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). The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.39) earnings per share. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CZR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Truist Financial downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Wells Fargo & Company upped their target price on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 2nd. 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 note on Friday, May 29th. Finally, Zacks Research downgraded shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Hold” and an average price target of $30.71.

Insider Activity at Caesars Entertainment

In other news, Director Blackhurst Janis L. Jones sold 33,899 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $29.63, for a total value of $1,004,427.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares of the company’s stock, valued at $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 595,003 shares of company stock valued at $17,547,145 in the last ninety days. 1.18% of the stock is owned by insiders.

Caesars Entertainment 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.