Allworth Financial LP Raises Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Allworth Financial LP grew its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 97.8% during the first quarter, Holdings Channel reports. The fund owned 1,339 shares of the company’s stock after purchasing an additional 662 shares during the period. Allworth Financial LP’s holdings in Caesars Entertainment were worth $36,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CZR. DAVENPORT & Co LLC raised its holdings in Caesars Entertainment by 1,051.1% in the first 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 in the last quarter. Capital Research Global Investors grew its position in shares of Caesars Entertainment by 14.8% in the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after buying an additional 2,555,876 shares during the period. Norges Bank bought a new position in shares of Caesars Entertainment in the 4th quarter worth about $75,058,000. Cohen & Steers Inc. lifted its position in Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after acquiring an additional 1,882,728 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Caesars Entertainment during the fourth quarter worth about $57,629,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Susquehanna lifted their target price on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Barclays lifted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. started coverage on Caesars Entertainment in a research note on Monday, June 23rd. They issued an “overweight” rating and a $47.00 target price on the stock. Cfra restated a “hold” rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Friday, July 11th. Finally, Morgan Stanley upped 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. Four equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Caesars Entertainment Stock Down 1.4%

Shares of Caesars Entertainment stock opened at $29.93 on Friday. Caesars Entertainment, Inc. has a twelve month low of $21.40 and a twelve month high of $45.93. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 5.84. The company’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 price-to-earnings ratio of -27.46, a price-to-earnings-growth ratio of 85.10 and a beta of 2.29.

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