Bank of New York Mellon Corp Has $33.42 Million Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of New York Mellon Corp boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,336,606 shares of the company’s stock after buying an additional 30,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in Caesars Entertainment were worth $33,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. DAVENPORT & Co LLC grew its holdings in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock worth $87,399,000 after purchasing an additional 3,192,224 shares during the last quarter. Capital Research Global Investors grew its holdings in Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after acquiring an additional 2,555,876 shares during the last quarter. Norges Bank bought a new stake in Caesars Entertainment during the 4th quarter worth about $75,058,000. Cohen & Steers Inc. grew its holdings in Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after acquiring an additional 1,882,728 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Caesars Entertainment during the 4th quarter worth about $57,629,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Stock Down 3.3%

CZR stock opened at $29.83 on Wednesday. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.82 and a current ratio of 0.84. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of -27.37, a PEG ratio of 19.25 and a beta of 2.29. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The stock has a fifty day moving average of $28.40 and a 200-day moving average of $29.89.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm posted ($0.73) EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CZR shares. JPMorgan Chase & Co. started coverage on shares of Caesars Entertainment in a research report on Monday, June 23rd. They issued an “overweight” rating and a $47.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They set a “buy” rating and a $36.00 target price on the stock. Truist Financial decreased their price target on shares of Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised their price target on shares of Caesars Entertainment from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Finally, Capital One Financial raised shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $51.00 to $47.00 in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.20.

Caesars Entertainment Company 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.