Fifth Third Bancorp Buys 31,411 Shares of Caesars Entertainment, Inc. $CZR

Fifth Third Bancorp lifted its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 490.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,810 shares of the company’s stock after purchasing an additional 31,411 shares during the period. Fifth Third Bancorp’s holdings in Caesars Entertainment were worth $999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pictet Asset Management Holding SA raised its stake in Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock worth $827,000 after buying an additional 363 shares in the last quarter. CoreCap Advisors LLC boosted its position in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after acquiring an additional 488 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Caesars Entertainment by 1.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after acquiring an additional 493 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Caesars Entertainment by 3.5% during the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after acquiring an additional 549 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Caesars Entertainment by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after acquiring an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Insider Buying and Selling at Caesars Entertainment

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. The SEC filing for this sale provides additional information. Insiders have sold 293,463 shares of company stock valued at $8,609,241 over the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of research analyst reports. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Citizens Jmp increased their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Truist Financial downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Capital One Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Hold” and an average price target of $31.00.

Caesars Entertainment Price Performance

CZR stock opened at $29.94 on Monday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a 50 day moving average price of $29.43 and a 200-day moving average price of $26.49. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned ($0.54) EPS. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.