Caesars Entertainment Co. (CZR) Stake Lifted by Corsair Capital Management L.P.

Share on StockTwits

Corsair Capital Management L.P. increased its stake in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,964,693 shares of the company’s stock after purchasing an additional 161,953 shares during the period. Caesars Entertainment makes up 4.6% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 8th largest holding. Corsair Capital Management L.P. owned 0.29% of Caesars Entertainment worth $20,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CZR. Comerica Bank purchased a new position in shares of Caesars Entertainment during the second quarter valued at approximately $290,000. Victory Capital Management Inc. bought a new stake in Caesars Entertainment during the second quarter valued at approximately $9,601,000. Public Employees Retirement Association of Colorado grew its position in Caesars Entertainment by 285.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 29,748 shares of the company’s stock valued at $318,000 after buying an additional 22,035 shares during the period. State of Wisconsin Investment Board bought a new stake in Caesars Entertainment during the second quarter valued at approximately $1,245,000. Finally, Beach Point Capital Management LP grew its position in Caesars Entertainment by 36.7% during the second quarter. Beach Point Capital Management LP now owns 3,447,509 shares of the company’s stock valued at $36,888,000 after buying an additional 925,798 shares during the period.

CZR has been the subject of several recent research reports. Deutsche Bank initiated coverage on shares of Caesars Entertainment in a research report on Tuesday, September 4th. They set a “buy” rating and a $14.00 target price for the company. Zacks Investment Research lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Credit Suisse Group initiated coverage on shares of Caesars Entertainment in a research report on Tuesday, September 11th. They set an “outperform” rating and a $13.00 target price for the company. BidaskClub upgraded shares of Caesars Entertainment from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Finally, UBS Group initiated coverage on shares of Caesars Entertainment in a research report on Monday, September 24th. They set a “sell” rating and a $9.00 target price for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Caesars Entertainment has a consensus rating of “Hold” and a consensus target price of $13.10.

In other Caesars Entertainment news, insider Marco Roca sold 17,834 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total value of $146,417.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas M. Benninger purchased 41,000 shares of the company’s stock in a transaction on Tuesday, November 20th. The stock was purchased at an average price of $7.79 per share, with a total value of $319,390.00. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company’s stock.

CZR opened at $7.95 on Friday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 79.60, a PEG ratio of 12.44 and a beta of 0.74. Caesars Entertainment Co. has a 1-year low of $7.45 and a 1-year high of $14.50. The company has a debt-to-equity ratio of 5.93, a current ratio of 1.16 and a quick ratio of 1.14.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($0.03) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.03). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion. Caesars Entertainment had a net margin of 25.75% and a return on equity of 2.26%. Equities research analysts anticipate that Caesars Entertainment Co. will post 0.06 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Fairfield Current and is owned by of Fairfield Current. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.fairfieldcurrent.com/news/2018/12/07/caesars-entertainment-co-czr-stake-lifted-by-corsair-capital-management-l-p.html.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

Featured Story: Ex-Dividend

Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

Receive News & Ratings for Caesars Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesars Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply