Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 8.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,217 shares of the company’s stock after buying an additional 2,263 shares during the quarter. CIBC Asset Management Inc’s holdings in Caesars Entertainment were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC raised its position in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after buying an additional 248 shares during the last quarter. Assetmark Inc. boosted its holdings in Caesars Entertainment by 8.0% in the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after purchasing an additional 256 shares in the last quarter. American Trust increased its position in Caesars Entertainment by 4.5% during the 1st quarter. American Trust now owns 7,346 shares of the company’s stock worth $321,000 after purchasing an additional 313 shares during the period. Private Advisor Group LLC raised its stake in shares of Caesars Entertainment by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after buying an additional 317 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after buying an additional 403 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Up 0.6 %

Shares of NASDAQ:CZR opened at $37.59 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $7.99 billion, a P/E ratio of -22.51 and a beta of 2.96. Caesars Entertainment, Inc. has a 52-week low of $31.74 and a 52-week high of $50.51. The stock’s fifty day simple moving average is $41.63 and its 200-day simple moving average is $38.32.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for 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%. Caesars Entertainment’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, equities research analysts forecast that Caesars Entertainment, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CZR shares. Susquehanna reaffirmed a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective 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, October 30th. Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.