One68 Global Capital LLC Invests $754,000 in Caesars Entertainment, Inc. $CZR

One68 Global Capital LLC purchased a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $754,000. Caesars Entertainment accounts for approximately 1.6% of One68 Global Capital LLC’s investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CZR. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth $65,492,000. Man Group plc purchased a new stake in shares of Caesars Entertainment during the second quarter worth $32,953,000. Janus Henderson Group PLC boosted its position in Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after purchasing an additional 355,760 shares during the last quarter. Finally, 1492 Capital Management LLC purchased a new position in Caesars Entertainment in the first quarter valued at about $1,020,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Down 0.1%

Caesars Entertainment stock opened at $29.64 on Friday. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The company’s fifty day moving average price is $29.86 and its two-hundred day moving average price is $27.66. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -13.00 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm earned ($0.39) EPS. Caesars Entertainment’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Bret Yunker sold 208,134 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Pegram sold 55,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $1,606,000.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 561,104 shares of company stock worth $16,542,718. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

CZR has been the topic of several research reports. TD Cowen lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Wednesday, July 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 report on Friday, May 29th. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Monday, June 15th. Wells Fargo & Company increased their price objective on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Finally, Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.