Ionic Capital Management LLC Sells 45,000 Shares of Caesars Entertainment, Inc. $CZR

Ionic Capital Management LLC decreased its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 75.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,000 shares of the company’s stock after selling 45,000 shares during the quarter. Ionic Capital Management LLC’s holdings in Caesars Entertainment were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Caesars Entertainment by 456.7% during the 4th 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 during the period. 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 valued at $28,000 after purchasing an additional 672 shares during the period. CoreCap Advisors LLC grew its stake in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 87.1% during 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. Finally, Stance Capital LLC bought a new stake in shares of Caesars Entertainment during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 0.3%

CZR stock opened at $29.21 on Thursday. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The stock has a market cap of $5.95 billion, a P/E ratio of -12.32 and a beta of 1.77. The business’s 50-day moving average price is $28.05 and its 200-day moving average price is $25.34.

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

Insider Transactions at Caesars Entertainment

In related news, Director Michael E. Pegram sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 SEC, which is available through this link. 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 value of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 293,463 shares of company stock worth $8,609,241. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CZR. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Morgan Stanley boosted their price target on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Citigroup boosted their price target on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.53.

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.