Union Square Park Capital Management LLC Lowers Holdings in Caesars Entertainment, Inc. $CZR

Union Square Park Capital Management LLC lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 76.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the company’s stock after selling 260,000 shares during the quarter. Caesars Entertainment makes up about 1.2% of Union Square Park Capital Management LLC’s portfolio, making the stock its 16th biggest position. Union Square Park Capital Management LLC’s holdings in Caesars Entertainment were worth $2,114,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CZR. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 worth $115,500,000 after buying an additional 4,937,998 shares during the period. Morgan Stanley raised its holdings in shares of Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares in the last quarter. Norges Bank bought a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $76,050,000. MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment in the fourth quarter worth about $65,492,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Caesars Entertainment by 35,370.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock worth $57,645,000 after acquiring an additional 2,457,570 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CZR has been the topic of a number of research reports. Citigroup raised their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Morgan Stanley increased their price objective on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.00.

Caesars Entertainment Stock Up 0.1%

Caesars Entertainment stock opened at $29.94 on Friday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The business has a fifty day moving average price of $29.43 and a 200-day moving average price of $26.47. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.54) earnings per share. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 293,463 shares of company stock worth $8,609,241. Corporate insiders own 1.18% of the company’s stock.

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.