Moore Capital Management LP Invests $1.51 Million in Caesars Entertainment, Inc. $CZR

Moore Capital Management LP acquired a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,509,000.

A number of other hedge funds also recently bought and sold shares of the business. Harvest Management LLC purchased a new position in Caesars Entertainment in the 2nd quarter worth approximately $1,328,000. Okabena Investment Services Inc. acquired a new stake in shares of Caesars Entertainment in the second quarter valued at approximately $613,000. Hsbc Holdings PLC increased its holdings in shares of Caesars Entertainment by 1,727.8% in the second quarter. Hsbc Holdings PLC now owns 1,033,740 shares of the company’s stock valued at $30,967,000 after purchasing an additional 977,185 shares during the last quarter. Mint Tower Capital Management B.V. purchased a new position in Caesars Entertainment during the second quarter worth approximately $2,113,000. Finally, Empowered Funds LLC purchased a new position in Caesars Entertainment during the second quarter worth approximately $225,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.70 on Tuesday. The company’s 50 day simple moving average is $29.88 and its 200-day simple moving average is $27.79. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.03 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion during 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%. Caesars Entertainment’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Blackhurst Janis L. Jones sold 33,899 shares of Caesars Entertainment stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Pegram sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $29.41, for a total value of $1,470,500.00. Following the sale, the director owned 41,697 shares of the company’s stock, valued at approximately $1,226,308.77. The trade was a 54.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 540,003 shares of company stock worth $15,941,145. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CZR. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Stifel Nicolaus cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Monday, June 15th. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.71.

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.