Raymond James & Associates Increases Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Raymond James & Associates lifted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,812 shares of the company’s stock after acquiring an additional 45,646 shares during the period. Raymond James & Associates’ holdings in Caesars Entertainment were worth $9,027,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Comerica Bank increased its position in shares of Caesars Entertainment by 4.1% in the second quarter. Comerica Bank now owns 18,167 shares of the company’s stock valued at $759,000 after buying an additional 708 shares in the last quarter. Swiss National Bank increased its position in Caesars Entertainment by 0.3% during the 2nd quarter. Swiss National Bank now owns 928,500 shares of the company’s stock worth $35,562,000 after purchasing an additional 2,600 shares in the last quarter. Commerce Bank purchased a new stake in Caesars Entertainment in the 2nd quarter valued at about $297,000. KBC Group NV grew its holdings in Caesars Entertainment by 33.3% in the 2nd quarter. KBC Group NV now owns 13,931 shares of the company’s stock valued at $534,000 after buying an additional 3,484 shares during the period. Finally, LPL Financial LLC grew its holdings in Caesars Entertainment by 40.7% in the 2nd quarter. LPL Financial LLC now owns 233,762 shares of the company’s stock valued at $8,953,000 after buying an additional 67,582 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of CZR opened at $47.21 on Friday. The company has a market cap of $10.13 billion, a P/E ratio of -8.52 and a beta of 2.83. The stock has a fifty day moving average price of $47.04 and a 200 day moving average price of $43.93. The company has a debt-to-equity ratio of 6.53, a current ratio of 0.80 and a quick ratio of 0.78. Caesars Entertainment, Inc. has a 12 month low of $31.31 and a 12 month high of $89.80.

Caesars Entertainment (NASDAQ:CZRGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.84 billion. Caesars Entertainment had a negative return on equity of 15.21% and a negative net margin of 11.18%. On average, research analysts forecast that Caesars Entertainment, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram purchased 25,000 shares of Caesars Entertainment stock in a transaction on Friday, November 4th. The stock was bought at an average price of $44.74 per share, for a total transaction of $1,118,500.00. Following the transaction, the director now owns 96,697 shares of the company’s stock, valued at approximately $4,326,223.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Caesars Entertainment from $64.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, November 2nd. Morgan Stanley initiated coverage on Caesars Entertainment in a research note on Monday, November 21st. They issued an “equal weight” rating and a $51.00 price objective on the stock. Susquehanna Bancshares reduced their price objective on Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating on the stock in a research note on Monday, October 3rd. Cowen reduced their price objective on Caesars Entertainment to $75.00 in a research note on Thursday, October 20th. Finally, Bank of America reduced their price objective on Caesars Entertainment from $55.00 to $50.00 in a research note on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.47.

Caesars Entertainment Profile

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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Institutional Ownership by Quarter for Caesars Entertainment (NASDAQ:CZR)

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