Cetera Investment Advisers Acquires 7,847 Shares of Caesars Entertainment, Inc. $CZR

Cetera Investment Advisers grew its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 86.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,956 shares of the company’s stock after acquiring an additional 7,847 shares during the quarter. Cetera Investment Advisers’ holdings in Caesars Entertainment were worth $424,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mather Group LLC. lifted its position 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 buying an additional 405 shares during the last quarter. Allworth Financial LP increased its stake in shares of Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after buying an additional 662 shares during the period. Bogart Wealth LLC increased its stake in shares of Caesars Entertainment by 82.8% during the first quarter. Bogart Wealth LLC now owns 1,545 shares of the company’s stock valued at $39,000 after buying an additional 700 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after buying an additional 800 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake in Caesars Entertainment by 62.8% in the first quarter. Raleigh Capital Management Inc. now owns 3,352 shares of the company’s stock worth $84,000 after purchasing an additional 1,293 shares during the period. Institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Macquarie dropped their target price on Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Morgan Stanley lowered their price objective on 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. Barclays decreased their price target on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a “buy” rating and a $36.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Caesars Entertainment Stock Down 0.8%

Caesars Entertainment stock opened at $25.33 on Monday. The company has a market capitalization of $5.27 billion, a P/E ratio of -27.53 and a beta of 2.40. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The firm’s fifty day simple moving average is $27.99 and its 200-day simple moving average is $28.84.

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

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.