Governors Lane LP Makes New Investment in Caesars Entertainment, Inc. $CZR

Governors Lane LP bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, HoldingsChannel reports. The firm bought 96,800 shares of the company’s stock, valued at approximately $2,921,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA boosted its position in shares of Caesars Entertainment by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after acquiring an additional 363 shares during the last quarter. Corient Private Wealth LLC raised its stake in Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after purchasing an additional 549 shares during the period. Sunbelt Securities Inc. raised its stake 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 purchasing an additional 672 shares during the period. Ancora Advisors LLC boosted its holdings in Caesars Entertainment by 9.1% in the 3rd quarter. Ancora Advisors LLC now owns 8,417 shares of the company’s stock valued at $227,000 after purchasing an additional 700 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Caesars Entertainment by 59.5% in the 1st 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 period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Down 0.1%

Caesars Entertainment stock opened at $29.66 on Wednesday. The company has a market capitalization of $6.04 billion, a PE ratio of -13.01 and a beta of 1.75. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The firm has a 50 day moving average price of $29.85 and a 200 day moving average price of $28.23.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) 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 firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Insider Transactions at Caesars Entertainment

In other news, CFO Bret Yunker sold 208,134 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Blackhurst Janis L. Jones sold 33,899 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $29.63, for a total transaction of $1,004,427.37. The SEC filing for this sale provides additional information. Insiders sold a total of 343,237 shares of company stock worth $10,166,546 in the last 90 days. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CZR. Deutsche Bank Aktiengesellschaft reaffirmed 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. Wells Fargo & Company raised their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Monday, June 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Finally, Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.71.

About Caesars Entertainment

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.