Caesars Entertainment, Inc. (NASDAQ:CZR) Stake Lessened by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 5.4% in the third quarter, Holdings Channel reports. The institutional investor owned 27,702 shares of the company’s stock after selling 1,591 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Caesars Entertainment were worth $1,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. UMB Bank n.a. bought a new stake in Caesars Entertainment during the third quarter valued at $51,000. GAMMA Investing LLC increased its stake in Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the last quarter. Signaturefd LLC increased its stake in Caesars Entertainment by 77.0% during the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Caesars Entertainment during the first quarter valued at $150,000. Institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $59.00 target price on shares of Caesars Entertainment in a research note on Monday, October 14th. Finally, Jefferies Financial Group reduced their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Stock Performance

CZR stock opened at $39.22 on Friday. The company has a market capitalization of $8.33 billion, a P/E ratio of -23.48 and a beta of 2.97. The company has a 50-day simple moving average of $41.09 and a 200 day simple moving average of $38.17. Caesars Entertainment, Inc. has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.35 earnings per share for the current fiscal 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.