Pentwater Capital Management LP Takes Position in Caesars Entertainment, Inc. $CZR

Pentwater Capital Management LP bought a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,465,000 shares of the company’s stock, valued at approximately $346,014,000. Caesars Entertainment makes up 2.1% of Pentwater Capital Management LP’s investment portfolio, making the stock its 11th biggest holding. Pentwater Capital Management LP owned 0.06% of Caesars Entertainment as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in Caesars Entertainment in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised 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 valued at $26,000 after purchasing an additional 918 shares during the last quarter. Sunbelt Securities Inc. lifted its position 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 purchasing an additional 672 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after purchasing an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR opened at $29.66 on Thursday. The business has a 50-day simple moving average of $29.86 and a two-hundred day simple moving average of $27.60. The stock has a market cap of $6.04 billion, a PE ratio of -13.01 and a beta of 1.77. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month 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 announced its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company earned ($0.39) earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Josh Jones sold 59,507 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The SEC filing for this sale provides additional information. Insiders have sold a total of 561,104 shares of company stock valued at $16,542,718 in the last three months. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Stifel Nicolaus downgraded shares of 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. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Finally, Zacks Research cut Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. 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’s stock. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and an average target price of $30.71.

Caesars Entertainment 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.