Cyrus Capital Partners L.P. Invests $37.80 Million in Caesars Entertainment, Inc. $CZR

Cyrus Capital Partners L.P. acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the first quarter, HoldingsChannel reports. The fund acquired 1,430,000 shares of the company’s stock, valued at approximately $37,795,000. Caesars Entertainment makes up approximately 19.3% of Cyrus Capital Partners L.P.’s holdings, making the stock its 3rd largest holding.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its holdings in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Caesars Entertainment by 456.7% during 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 in the last quarter. CoreCap Advisors LLC lifted its holdings in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares in the last quarter. Hantz Financial Services Inc. boosted its position 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 worth $42,000 after purchasing an additional 846 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after purchasing an additional 702 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Insider Transactions at Caesars Entertainment

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction that occurred on 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 293,463 shares of company stock worth $8,609,241 over the last quarter. 1.18% of the stock is owned by company insiders.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $29.75 on Friday. The company has a market cap of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.76. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The firm’s fifty day moving average is $29.63 and its two-hundred day moving average is $26.68.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 net margin of 3.99% and a negative return on equity of 7.64%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned ($0.39) EPS. As a group, analysts anticipate that Caesars Entertainment, Inc. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CZR. Wells Fargo & Company increased their price objective on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Finally, Morgan Stanley raised their price target on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.