Fifth Third Bancorp Buys 999 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Fifth Third Bancorp raised its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,279 shares of the company’s stock after acquiring an additional 999 shares during the quarter. Fifth Third Bancorp’s holdings in Caesars Entertainment were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Caesars Entertainment by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock valued at $780,854,000 after acquiring an additional 100,263 shares in the last quarter. Capital Research Global Investors boosted its position in Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after acquiring an additional 2,555,876 shares in the last quarter. Cohen & Steers Inc. boosted its position in Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after acquiring an additional 1,882,728 shares in the last quarter. Invesco Ltd. boosted its position in Caesars Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after acquiring an additional 1,213,426 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Caesars Entertainment by 41.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company’s stock valued at $122,274,000 after acquiring an additional 1,065,506 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CZR shares. Barclays increased their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Macquarie decreased their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Raymond James Financial decreased their price objective on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 19th. Finally, Wells Fargo & Company decreased their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.77.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $26.45 on Wednesday. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -24.27, a price-to-earnings-growth ratio of 1.29 and a beta of 2.31. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.84 and a quick ratio of 0.82. The business has a fifty day moving average of $27.30 and a 200 day moving average of $30.79. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.73) EPS. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.