CZR Caesars Entertainment, Inc.
Executive Summary
Q3 2024 institutional 13F cluster for Caesars Entertainment shows a mixed net conviction: 26 buyers accumulated $100.8M (led by Citadel +$46.8M, Point72 new $26.7M, Verition doubled to $12.2M), while 21 sellers reduced by $87.1M (led by Td Asset Mgmt -$24.5M, Ubs -$18.2M, Sumitomo Mitsui -$15.8M). The largest directional bets come from active quant/hedge funds building positions, suggesting conviction in the post-restructuring Las Vegas/regional thesis; however, substantial trimming by large diversified asset managers reflects ongoing caution around leverage and regional macro headwinds.
Key Financial Metrics
Institutional Positions
Net institutional flow: $13.7M
▲ Buyers (26)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Point72 | NEW | +100% | $26.7M | $26.7M |
| Citadel | ADD | +41.5% | $143.2M | $46.8M |
| Verition Fund Management | DOUBLED | +2465.2% | $12.2M | $11.7M |
| Amundi | ADD | +69.8% | $19.0M | $9.3M |
| Ameriprise Financial | ADD | +90.9% | $7.2M | $3.6M |
▼ Sellers (21)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Asset Management | NEAR_EXIT | -88.4% | $27.9M | -$24.5M |
| Ubs Am, A Distinct Business Un | TRIM | -54.2% | $35.0M | -$18.2M |
| Sumitomo Mitsui Trust Group | NEAR_EXIT | -98.4% | $16.0M | -$15.8M |
| Hsbc Holdings | TRIM | -45.6% | $19.1M | -$8.1M |
| Mitsubishi Ufj Asset Managemen | TRIM | -39.9% | $11.9M | -$4.4M |
Actionable Insight
The divergence between hedge-fund buying (Point72, Citadel, Verition) and large asset-manager selling (Td, Ubs, Sumitomo) suggests a debate on CZR's risk/reward near $42. Hedge funds appear to bet on Las Vegas recovery and capital return; asset managers may be reducing on leverage fears. Monitor upcoming earnings for FCF and net leverage trends to see which side is correct.
Key Facts
- 26 buyers added a net $100.8M in CZR positions; 21 sellers reduced a net $87.1M
- Point72 (quant) initiated a new $26.7M position — strongest single new vote of confidence
- Citadel (quant) added $46.8M, its largest caesars position at $143.2M
- Verition Fund Mgmt (asset_manager) increased 2,465% to $12.2M
- Td Asset Mgmt, Ubs, Mitsubishi Ufj, Hsbc, and Sumitomo Mitsui each trimmed >$4M+
- Active quant/hedge funds buying vs. large diversified global asset managers trimming suggests a split thesis: valuation vs. credit/macro risk
Financial Impact
Net institutional flow of +$13.7M ($100.8M buys vs $87.1M sells); Point72's new $26.7M and Citadel's $46.8M add are the most concentrated bullish bets
Risk Factors
- Net corporate debt remains elevated (~$11B+ after regional restructuring); higher-for-longer rates pressure interest coverage
- Stripping of large global asset managers (Td, Ubs, Sumitomo) could continue if CZR's liquidity profile deteriorates
- 45-day 13F reporting lag means positions may have been unwound since Sep 30
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-CZR-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 12, 2026
today
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Insider Cluster
| $29.48 awaiting T+1 | awaiting T+1 | — | — |
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Jun 12, 2026
1d ago
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Institutional Cluster
| $29.51 awaiting T+1 | awaiting T+1 | — | — |
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Jun 10, 2026
2d ago
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144
| $29.45 awaiting T+1 | awaiting T+1 | — | — |
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Jun 9, 2026
3d ago
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144
| $29.45 awaiting T+1 | awaiting T+1 | — | — |
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Jun 9, 2026
3d ago
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144
| $29.39 awaiting T+1 | awaiting T+1 | — | — |
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Jun 9, 2026
3d ago
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144
| $29.31 awaiting T+1 | awaiting T+1 | — | — |
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Jun 2, 2026
10d ago
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144
| $29.17 $29.24 | ▲ +0.24% | ▼ −0.16% | — |
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Jun 2, 2026
10d ago
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144
| $29.17 $29.24 | ▲ +0.24% | ▼ −0.16% | — |
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May 28, 2026
15d ago
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DEFA14A
| $29.06 $29.03 | ▼ −0.10% | ▼ −0.34% | — |
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May 28, 2026
15d ago
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8-K
| $29.06 $29.03 | ▼ −0.10% | ▼ −0.34% | — |
US Market Status
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