96,800 Shares in Caesars Entertainment, Inc. $CZR Acquired by Governors Lane LP

Governors Lane LP acquired a new position in Caesars Entertainment, Inc. (NASDAQ:CZR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 96,800 shares of the company’s stock, valued at approximately $2,921,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in Caesars Entertainment in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its position in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. grew its stake 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 worth $28,000 after purchasing an additional 672 shares during the period. Parkside Financial Bank & Trust increased its holdings 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 purchasing an additional 811 shares in the last quarter. Finally, 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 purchasing an additional 846 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CZR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a report on Thursday, August 13th. Zacks Research cut Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Truist Financial lowered 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 research note on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Finally, TD Cowen lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.71.

Insider Transactions at Caesars Entertainment

In related news, CFO Bret Yunker sold 208,134 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janis Jones Blackhurst sold 33,899 shares of the company’s stock in a transaction 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. Insiders have sold a total of 343,237 shares of company stock valued at $10,166,546 over the last ninety days. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Trading Down 0.1%

Shares of Caesars Entertainment stock opened at $29.66 on Wednesday. The firm 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 twelve month low of $17.86 and a twelve month high of $30.88. The firm’s 50-day moving average price is $29.85 and its 200 day moving average price is $28.23. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.

Caesars Entertainment (NASDAQ:CZR) last posted 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 firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) earnings per share. On average, sell-side analysts predict 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.