DSC Meridian Capital LP Buys New Shares in Caesars Entertainment, Inc. $CZR

DSC Meridian Capital LP bought a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 165,000 shares of the company’s stock, valued at approximately $4,980,000. Caesars Entertainment accounts for approximately 1.2% of DSC Meridian Capital LP’s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds have also added to or reduced their stakes in CZR. Allworth Financial LP purchased a new stake in Caesars Entertainment during the second quarter valued at about $25,000. Sunbelt Securities Inc. increased its holdings in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $26,000 after buying an additional 918 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after acquiring an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after acquiring an additional 702 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction, the insider directly owned 18,263 shares of the company’s stock, 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, CFO Bret Yunker sold 208,134 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 561,104 shares of company stock valued at $16,542,718 in the last 90 days. 1.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Stifel Nicolaus downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Monday, June 15th. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.71.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.66 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The firm has a market cap of $6.04 billion, a P/E ratio of -13.01 and a beta of 1.77. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The firm has a 50-day moving average of $29.84 and a 200-day moving average of $27.48.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned ($0.39) EPS. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.9 EPS for the current 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.