Tidal Investments LLC Buys 194,361 Shares of Caesars Entertainment, Inc. $CZR

Tidal Investments LLC boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 198.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 292,248 shares of the company’s stock after purchasing an additional 194,361 shares during the quarter. Tidal Investments LLC’s holdings in Caesars Entertainment were worth $8,820,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Caesars Entertainment in the second quarter valued at approximately $30,967,000. Jefferies Financial Group Inc. bought a new stake in Caesars Entertainment during the 2nd quarter worth about $1,110,000. Man Group plc bought a new stake in Caesars Entertainment during the 2nd quarter worth about $32,953,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Caesars Entertainment by 246,899,900.0% in the 4th 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. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $65,492,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Trading Up 0.1%

NASDAQ:CZR opened at $29.67 on Friday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The business’s 50-day moving average price is $29.81 and its two-hundred day moving average price is $28.35. 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 has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.01 and a beta of 1.75.

Caesars Entertainment (NASDAQ:CZR) last issued its 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). 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 return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS. On average, equities analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Josh Jones sold 59,507 shares of the stock in a transaction 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 disclosure for this sale is available in the SEC filing. Insiders have sold 301,540 shares of company stock worth $8,937,904 in the last ninety days. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

CZR has been the subject of a number of research reports. Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. 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 report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Raymond James Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and a consensus target price of $30.71.

About Caesars Entertainment

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.