DLD Asset Management LP Invests $5.12 Million in Caesars Entertainment, Inc. $CZR

DLD Asset Management LP acquired a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 169,500 shares of the company’s stock, valued at approximately $5,116,000. DLD Asset Management LP owned approximately 0.08% of Caesars Entertainment at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP acquired a new position in Caesars Entertainment in the 2nd quarter valued at about $25,000. Sunbelt Securities Inc. lifted its position in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after purchasing an additional 918 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after buying an additional 702 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $29.76 on Monday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88. The company’s 50 day moving average is $29.84 and its two-hundred day moving average is $27.41. The company has a market cap of $6.06 billion, a PE ratio of -13.05 and a beta of 1.77. 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 released 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 analysts’ expectations 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 revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted ($0.39) earnings per share. Equities analysts predict that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Josh Jones sold 59,507 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total transaction of $1,768,548.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 561,104 shares of company stock valued at $16,542,718 over the last quarter. Corporate insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

CZR has been the subject of several research reports. Stifel Nicolaus downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Monday, June 15th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Capital One Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, 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 report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.71.

Caesars Entertainment Company 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.