Point Break Capital Management LLC Acquires Shares of 251,201 Caesars Entertainment, Inc. $CZR

Point Break Capital Management LLC acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, HoldingsChannel.com reports. The fund acquired 251,201 shares of the company’s stock, valued at approximately $7,581,000. Caesars Entertainment accounts for 8.3% of Point Break Capital Management LLC’s holdings, making the stock its 6th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in CZR. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Caesars Entertainment during the 4th quarter valued at $65,492,000. Janus Henderson Group PLC raised its holdings in Caesars Entertainment by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after purchasing an additional 355,760 shares in the last quarter. 1492 Capital Management LLC bought a new position in Caesars Entertainment in the 1st quarter worth $1,020,000. Finally, Cyrus Capital Partners L.P. purchased a new stake in shares of Caesars Entertainment in the 1st quarter worth about $37,795,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CZR shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Capital One Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Texas Capital lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered 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 assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.71.

Insider Activity

In other news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on 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 SEC, which is accessible through this link. Also, CFO Bret Yunker sold 208,134 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 561,104 shares of company stock valued at $16,542,718. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.66 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 $6.04 billion, a price-to-earnings ratio of -13.01 and a beta of 1.77. The business’s fifty day simple moving average is $29.86 and its two-hundred day simple moving average is $27.60. 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) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.39) earnings per share. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

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.