TIG Advisors LLC cut its stake in Caesars Entertainment Co. (NASDAQ:CZR) by 77.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,730 shares of the company’s stock after selling 114,086 shares during the period. TIG Advisors LLC’s holdings in Caesars Entertainment were worth $399,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Canyon Capital Advisors LLC raised its holdings in shares of Caesars Entertainment by 10.9% during the first quarter. Canyon Capital Advisors LLC now owns 77,581,861 shares of the company’s stock worth $674,186,000 after purchasing an additional 7,610,629 shares during the period. Omni Partners LLP acquired a new stake in shares of Caesars Entertainment during the second quarter worth $86,908,000. Alpine Associates Management Inc. raised its holdings in shares of Caesars Entertainment by 2,876.5% during the second quarter. Alpine Associates Management Inc. now owns 7,227,000 shares of the company’s stock worth $85,423,000 after purchasing an additional 6,984,200 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of Caesars Entertainment by 74.1% during the second quarter. Eagle Asset Management Inc. now owns 8,413,040 shares of the company’s stock worth $99,442,000 after purchasing an additional 3,580,046 shares during the period. Finally, Carillon Tower Advisers Inc. raised its holdings in shares of Caesars Entertainment by 79.8% during the second quarter. Carillon Tower Advisers Inc. now owns 6,117,162 shares of the company’s stock worth $72,304,000 after purchasing an additional 2,715,429 shares during the period.
A number of analysts have weighed in on the stock. SunTrust Banks cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 target price on the stock. in a report on Tuesday, June 25th. Zacks Investment Research cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Caesars Entertainment in a report on Wednesday, August 7th. Morgan Stanley cut shares of Caesars Entertainment from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $11.00 to $12.50 in a report on Tuesday, June 25th. Finally, ValuEngine raised shares of Caesars Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Caesars Entertainment has an average rating of “Hold” and an average target price of $12.08.
Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Monday, August 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.03). The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. Caesars Entertainment had a negative net margin of 2.59% and a negative return on equity of 12.38%. On average, equities analysts anticipate that Caesars Entertainment Co. will post -0.78 earnings per share for the current year.
In related news, VP Les Ottolenghi sold 17,240 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.44, for a total value of $197,225.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 52,114 shares of company stock valued at $597,753 in the last quarter. 0.51% of the stock is currently owned by insiders.
Caesars Entertainment Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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