Bank of Montreal Can Sells 780,201 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of Montreal Can reduced its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 76.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,283 shares of the company’s stock after selling 780,201 shares during the quarter. Bank of Montreal Can owned 0.11% of Caesars Entertainment worth $9,888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgePoint Investment Group Inc. increased its position in shares of Caesars Entertainment by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after purchasing an additional 60,184 shares in the last quarter. Helikon Investments Ltd increased its holdings in shares of Caesars Entertainment by 67.1% during the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after buying an additional 637,303 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after buying an additional 59,170 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Caesars Entertainment by 6,568.4% in the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after acquiring an additional 1,418,318 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Caesars Entertainment by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,374,990 shares of the company’s stock worth $54,642,000 after acquiring an additional 146,310 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley lifted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Macquarie restated an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued 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 $53.86.

Caesars Entertainment Price Performance

Shares of CZR opened at $38.49 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a market cap of $8.18 billion, a P/E ratio of -23.05 and a beta of 2.96. The stock’s 50-day moving average price is $41.43 and its two-hundred day moving average price is $38.41. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

About Caesars Entertainment

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.