Mint Tower Capital Management B.V. Takes $2.11 Million Position in Caesars Entertainment, Inc. $CZR

Mint Tower Capital Management B.V. acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 70,021 shares of the company’s stock, valued at approximately $2,113,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $830,001,000. Pentwater Capital Management LP acquired a new position in shares of Caesars Entertainment in the second quarter valued at approximately $346,014,000. State Street Corp lifted its stake in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after buying an additional 61,065 shares during the period. Morgan Stanley lifted its stake in shares of Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after buying an additional 3,910,430 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after acquiring an additional 355,760 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insiders Place Their Bets

In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Blackhurst Janis L. Jones sold 33,899 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 595,003 shares of company stock worth $17,547,145. 1.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CZR shares. Truist Financial downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the company from $32.00 to $31.00 in a report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a report on Thursday, August 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Monday, June 15th. Finally, Capital One Financial lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.71.

Caesars Entertainment Stock Up 0.3%

Shares of CZR opened at $29.73 on Friday. The firm has a market cap of $6.06 billion, a PE ratio of -13.04 and a beta of 1.77. The company’s fifty day moving average is $29.87 and its two-hundred day moving average is $27.68. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The company has a quick ratio of 0.83, a current ratio of 0.85 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) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

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.