Maven Securities LTD Makes New $8.54 Million Investment in Caesars Entertainment, Inc. $CZR

Maven Securities LTD purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 283,136 shares of the company’s stock, valued at approximately $8,545,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in Caesars Entertainment during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd increased its holdings in 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 buying an additional 918 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after acquiring an additional 672 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Caesars Entertainment by 310.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after acquiring an additional 811 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after acquiring an additional 846 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction on Friday, June 12th. The stock was 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 available through this link. Also, CMO Josh Jones sold 59,507 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,237 shares of company stock worth $10,166,546 in the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Barclays reaffirmed an “equal weight” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. 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 report on Friday, May 29th. Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.71.

Caesars Entertainment Stock Down 0.1%

Shares of NASDAQ CZR opened at $29.66 on Wednesday. The firm’s 50-day moving average is $29.85 and its two-hundred day moving average is $28.23. The company has a market capitalization of $6.04 billion, a PE ratio of -13.01 and a beta of 1.75. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share 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 business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the business earned ($0.39) earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts anticipate that Caesars Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

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.