8.70 +0.03 (0.35%)
Pre-Market: 4:00AM EDT
|Bid||5.44 x 1400|
|Ask||8.95 x 1000|
|Day's Range||8.62 - 8.95|
|52 Week Range||5.84 - 13.54|
|Beta (3Y Monthly)||1.64|
|PE Ratio (TTM)||21.15|
|Earnings Date||Apr 30, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.16|
A new report from the New York Post indicates he could be in a better position to strike a deal thanks to another billionaire, activist investor Carl Icahn.
Caesars rejected Fertitta's merger offer in November, but this time he could get help from activist investor and Caesars' controlling shareholder, Carl Icahn. Icahn has added to his stake in Caesars, the country's largest casino chain, for months and he currently owns a 28.5% stake in the company, including swaps, according to the Post's sources.
Caesars Entertainment Corp NASDAQ/NGS:CZRView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is moderate and declining Bearish sentimentShort interest | NeutralShort interest is moderately high for CZR with between 10 and 15% of shares outstanding currently on loan. However, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on March 15. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding CZR are favorable, with net inflows of $3.76 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Performances of gambling stocks over the last five trading disappoint, thanks to concerns over Macau gaming revenues, slowdown in China and the trade war between Beijing and Washington.
Caesars is providing some limited confidential financial information to Eldorado, which is carrying out due diligence on the potential combination of the two casino companies, the sources told Reuters. Earlier this month, Caesars struck a deal with billionaire investor Carl Icahn that will allow the activist investor and significant shareholder to add three directors to the board. "I believe the best path forward for Caesars requires a thorough strategic process to sell or merge the company to further develop its already strong regional presence, which will allow Caesars to continue to take advantage of the Caesars Rewards program bringing more and more players into Caesars' Vegas market," Icahn said on March 1.
U.S. stock futures were mixed on Monday as investors weighed signals of further interest rate easing from the world's biggest central banks and some uncertainty surrounding U.S.-China trade talks. The Federal Reserve will meet Tuesday and Wednesday, with investors anticipating another dovish statement from Fed Chairman Jerome Powell that could include new information on the bank's $3.8 trillion balance sheet, the unwinding of which has acted as a de facto interest rate increase in the world's biggest economy. The Bank of England also will gather this week in London, with Gov. Mark Carney expected to reiterate the level of uncertainty surrounding the world's fifth- largest economy as it moves toward the final weeks of its 40-year relationship with the European Union.
Analysts have speculated on a merger between the two in the past, as Eldorado owns 26 properties across the U.S. and Caesars is one of the dominant casino companies in Las Vegas.
The deal talks come after Caesars agreed this month to give billionaire investor Carl Icahn, who has been pushing the company to sell itself, three board seats to his representatives and a say on the selection of its next chief executive officer. Caesars is providing some limited confidential financial information to Eldorado, which is carrying out due diligence on the potential combination of the two companies, the sources said. Eldorado has yet to make a binding offer for Caesars, and there is no certainty any bid will materialize or that a deal will be successfully negotiated, the sources added, asking not to be identified because the matter is confidential.
Eldorado Resorts Inc. and Caesars Entertainment Corp. are in early merger discussions, Reuters reported Sunday. Activist investor Carl Icahn has recently increased his stake in Caesars, and has pushed for a sale. The talks are in their early stages and Eldorado has yet to make an official offer for Caesars, Reuters said, and it's possible no deal will be made. Caesars and Eldorado have market caps of $5.4 billion and $3.6 billion, respectively, though both U.S.-based casino operators have hefty debt loads.
Activist investor Carl Icahn (Trades, Portfolio) this week increased his holding of Caesars Entertainment Corp. (CZR) as he expands his control of the company in hopes of putting it up for sale. Warning! GuruFocus has detected 2 Warning Signs with CZR.
Activist investor Carl Icahn has upped his stake in casino giant Caesars Entertainment. The billionaire, who is seeking fundamental changes in the Las Vegas-based company, on Monday disclosed in a securities filing that recent stock purchases now put his stake at 17.75 percent. The filing with the Securities and Exchange Commission shows Icahn-controlled hedge funds purchased 15 million shares for $126.75 million.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains discusses reports that Amazon (AMZN) is looking to buy the YES Network from Disney (DIS) as it tries to expand its streaming sports business. The episode then dives into Chinese e-commerce giant Alibaba's (BABA) new NBA partnership, before checking out the latest sports betting news.
The Icahn-backed candidates, Keith Cozza, Courtney Mather and James Nelson, will replace three existing board members effective immediately, Caesars said in a statement Friday. “The best path forward for Caesars requires a thorough strategic process to sell or merge the company to further develop its already strong regional presence,” Icahn, whose group holds a 9.8 percent stake in the casino company, said in the statement. Caesars, the largest owner of casinos in the U.S., is under pressure from shareholders to boost returns or find a buyer.
Caesars Entertainment Corporation (NASDAQ:CZR) shareholders should be happy to see the share price up 18% in the last quarter. But that is little comfort to those holding over the lastRead More...
Apollo and TPG sold about 36.7 million shares of the Las Vegas-based company to a third party, according to a regulatory filing Friday. Hamlet Holdings, their holding company, now owns about 5.7 percent of the stock. The news coincided with a filing by billionaire Carl Icahn, who reported that he boosted his stake by 50 percent to become Caesars’ largest individual shareholder.
Activist investor Carl Icahn increased his stake in Caesars Entertainment Corp. to 15.6% from around 10%, according to public filings released Friday. According to a 13 D filing with the Securities and Exchange Commission, Icahn holds 105 million shares of Caesars worth $900 million, representing about 3.9% of his total portfolio, according to data service WhaleWisdom. Shares of Caesars were up about 2% in premarket trade on Friday. According to the Financial Times (paywall), Icahn built up a 10% stake in Caesars about a month ago, and was lobbying for the gaming company to put itself up for sale. The company is in the process of searching for a new CEO. According to reports earlier this month, Icahn and Caesars agreed to to add three people -- Keith Cozza, Courtney Mather and James Nelson -- backed by the 82-year-old investor to its board. Shares of Caesars have outperformed the broader market, rising 26% thus far in 2019, according to FactSet data. By comparison, the S&P 500 index has gained 9.6% in the first three months of the year, the Dow Jones Industrial Average has climbed 9.2%, and the Nasdaq Composite Index has advanced by about 12% over the same period. Among gaming and comparable resort companies this year, only shares of Melco Resorts & Entertainment Boyd Gaming Corp. and Scientific Games Corp. have outperformed Caesars so far in 2019. Meanwhile, a popular way to bet on the broader gaming sector, the VanEck Vectors Gaming ETF , is up more than 10% this year.
One of the largest global asset management firms focused on credit, GoldenTree Asset Management, was founded back in 2000 by Steven Tananbaum, and it currently manages around $28 billion in assets. The fund has offices in New York, London, Sydney, and Singapore. Aside from being the founder of the fund, a CFA charterholder, Steven Tananbaum, […]