Gabelli Funds LLC Increases Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Gabelli Funds LLC boosted its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 28.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,900 shares of the company’s stock after acquiring an additional 31,500 shares during the period. Gabelli Funds LLC owned 0.07% of Caesars Entertainment worth $5,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CZR. Blue Trust Inc. lifted its stake in shares of Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares during the period. Mather Group LLC. purchased a new stake in shares of Caesars Entertainment in the 1st quarter worth about $53,000. TFO Wealth Partners LLC increased its stake in shares of Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares in the last quarter. GAMMA Investing LLC lifted its position in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after acquiring an additional 622 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Caesars Entertainment during the fourth quarter worth about $93,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CZR has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JMP Securities lifted their price objective on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price target on Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley cut their price objective on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Caesars Entertainment Stock Down 1.3 %

Shares of Caesars Entertainment stock opened at $40.85 on Wednesday. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The company’s 50 day moving average is $37.07 and its 200 day moving average is $37.85. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 11.57 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the company earned $0.82 earnings per share. Caesars Entertainment’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts anticipate that Caesars Entertainment, Inc. will post 0.06 EPS 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.