Allworth Financial LP Increases Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Allworth Financial LP raised its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 97.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,339 shares of the company’s stock after purchasing an additional 662 shares during the quarter. Allworth Financial LP’s holdings in Caesars Entertainment were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FIL Ltd bought a new position in shares of Caesars Entertainment in the fourth quarter valued at approximately $28,000. Mather Group LLC. lifted its stake in Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock worth $26,000 after purchasing an additional 405 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Caesars Entertainment in the 4th quarter valued at $44,000. Canada Pension Plan Investment Board grew its position in shares of Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Caesars Entertainment in the fourth quarter worth $71,000. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 1.4%

Shares of NASDAQ:CZR opened at $29.93 on Friday. The stock’s 50-day moving average is $28.54 and its 200 day moving average is $29.85. The company has a market cap of $6.22 billion, a PE ratio of -27.46, a P/E/G ratio of 85.10 and a beta of 2.29. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment, Inc. has a 1 year low of $21.40 and a 1 year high of $45.93.

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

Analyst Upgrades and Downgrades

CZR has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Susquehanna upped their price objective on shares of Caesars Entertainment from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. JMP Securities set a $45.00 target price on shares of Caesars Entertainment in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Caesars Entertainment in a research note on Monday, June 23rd. They issued an “overweight” rating and a $47.00 price target for the company. Finally, Barclays raised their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.07.

About Caesars Entertainment

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.