Bank of New York Mellon Corp Acquires 30,738 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of New York Mellon Corp grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,336,606 shares of the company’s stock after acquiring an additional 30,738 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Caesars Entertainment worth $33,415,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. increased its position in Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock valued at $26,000 after purchasing an additional 405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Caesars Entertainment by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after buying an additional 408 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Caesars Entertainment by 6.1% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock worth $291,000 after acquiring an additional 500 shares during the period. Contrarian Capital Management L.L.C. grew its holdings in Caesars Entertainment by 0.4% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock worth $3,944,000 after acquiring an additional 500 shares during the period. Finally, Fifth Lane Capital LP grew its holdings in Caesars Entertainment by 6.3% during the 4th quarter. Fifth Lane Capital LP now owns 8,500 shares of the company’s stock worth $284,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 3.3%

Shares of Caesars Entertainment stock opened at $29.83 on Wednesday. The firm has a market capitalization of $6.20 billion, a PE ratio of -27.37, a P/E/G ratio of 19.25 and a beta of 2.29. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The firm’s 50-day moving average price is $28.40 and its 200 day moving average price is $29.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial decreased their price target on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Cfra reissued a “hold” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They set a “buy” rating and a $36.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Caesars Entertainment in a research report on Monday, June 23rd. They set an “overweight” rating and a $47.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

Caesars Entertainment 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.