Janney Montgomery Scott LLC Purchases Shares of 55,109 Caesars Entertainment, Inc. (NASDAQ:CZR)

Janney Montgomery Scott LLC purchased a new stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 55,109 shares of the company’s stock, valued at approximately $1,778,000.

Several other hedge funds have also added to or reduced their stakes in CZR. Raymond James Financial Services Advisors Inc. lifted its holdings in Caesars Entertainment by 6.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,298 shares of the company’s stock valued at $797,000 after purchasing an additional 666 shares during the last quarter. American Century Companies Inc. increased its position in Caesars Entertainment by 10.8% during the 1st quarter. American Century Companies Inc. now owns 9,416 shares of the company’s stock worth $728,000 after buying an additional 914 shares during the period. Cetera Advisor Networks LLC bought a new position in Caesars Entertainment during the 1st quarter worth $268,000. PNC Financial Services Group Inc. increased its position in Caesars Entertainment by 32.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,526 shares of the company’s stock worth $351,000 after buying an additional 1,119 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Caesars Entertainment by 2.4% during the 1st quarter. Panagora Asset Management Inc. now owns 9,874 shares of the company’s stock worth $764,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $48.37 on Friday. The business’s 50-day moving average price is $47.16 and its 200-day moving average price is $43.96. Caesars Entertainment, Inc. has a 12 month low of $31.31 and a 12 month high of $89.80. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of -8.73 and a beta of 2.83. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 6.53.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Caesars Entertainment had a negative return on equity of 15.21% and a negative net margin of 11.18%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.84 billion. Equities research analysts forecast that Caesars Entertainment, Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna lowered their price objective on Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating on the stock in a research report on Monday, October 3rd. StockNews.com began coverage on Caesars Entertainment in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Cowen decreased their price target on Caesars Entertainment to $75.00 in a research report on Thursday, October 20th. Bank of America decreased their price target on Caesars Entertainment from $55.00 to $50.00 in a research report on Wednesday, January 4th. Finally, Truist Financial decreased their price target on Caesars Entertainment from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.47.

Insider Activity

In other news, Director Michael E. Pegram purchased 25,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were purchased at an average cost of $44.74 per share, with a total value of $1,118,500.00. Following the completion of the purchase, the director now owns 96,697 shares of the company’s stock, valued at approximately $4,326,223.78. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.