PNC Financial Services Group Inc. Cuts Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

PNC Financial Services Group Inc. trimmed its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 23.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,446 shares of the company’s stock after selling 4,973 shares during the period. PNC Financial Services Group Inc.’s holdings in Caesars Entertainment were worth $411,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. boosted its stake in shares of Caesars Entertainment by 64.4% during 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 during the period. Allworth Financial LP lifted its holdings in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after buying an additional 662 shares in the last quarter. Bogart Wealth LLC lifted its holdings in Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company’s stock valued at $39,000 after buying an additional 700 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Caesars Entertainment by 100.0% in 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 stake in shares of Caesars Entertainment in the 4th quarter valued at about $71,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Trading Down 0.8%

Shares of CZR opened at $25.53 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a 12-month low of $21.40 and a 12-month high of $45.93. The firm has a 50-day moving average price of $28.00 and a 200 day moving average price of $29.01. The firm has a market capitalization of $5.31 billion, a P/E ratio of -27.75 and a beta of 2.40.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned ($0.56) EPS. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on CZR. Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Susquehanna dropped their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley decreased their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Finally, JMP Securities reduced their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.47.

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.