Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 20.2% in the 2nd quarter, Holdings Channel reports. The fund owned 6,255 shares of the company’s stock after purchasing an additional 1,050 shares during the period. Truist Financial Corp’s holdings in Caesars Entertainment were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CZR. Capital Research Global Investors raised its stake in Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares during the period. Nut Tree Capital Management LP boosted its stake in Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after buying an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 shares during the last quarter. Helikon Investments Ltd acquired a new position in Caesars Entertainment in the second quarter worth approximately $37,763,000. Finally, Bank of Montreal Can raised its position in shares of Caesars Entertainment by 451.6% during the second quarter. Bank of Montreal Can now owns 1,017,484 shares of the company’s stock worth $40,577,000 after purchasing an additional 833,039 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Susquehanna restated a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their target price on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and an average price target of $54.38.

Caesars Entertainment Stock Down 0.8 %

Caesars Entertainment stock opened at $45.18 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $50.51. The firm’s fifty day simple moving average is $39.77 and its 200-day simple moving average is $38.12. The company has a market capitalization of $9.78 billion, a P/E ratio of 12.80 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its 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). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.16 earnings per share for the current fiscal year.

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.