Comerica Bank Boosts Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Comerica Bank lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 80.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,615 shares of the company's stock after purchasing an additional 117,811 shares during the period. Comerica Bank owned about 0.12% of Caesars Entertainment worth $8,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Villere ST Denis J & Co. LLC boosted its position in shares of Caesars Entertainment by 6.2% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company's stock valued at $26,877,000 after purchasing an additional 47,294 shares during the period. Cannell Capital LLC acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $13,498,000. Guyasuta Investment Advisors Inc. acquired a new position in Caesars Entertainment in the fourth quarter valued at $385,000. Charles Schwab Investment Management Inc. raised its stake in Caesars Entertainment by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company's stock valued at $62,728,000 after acquiring an additional 11,671 shares during the last quarter. Finally, Key Colony Management LLC acquired a new stake in shares of Caesars Entertainment during the fourth quarter worth $6,350,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.24 during mid-day trading on Wednesday, reaching $27.09. 5,183,702 shares of the company's stock were exchanged, compared to its average volume of 4,913,835. Caesars Entertainment, Inc. has a 52-week low of $21.40 and a 52-week high of $45.93. 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 50-day simple moving average of $26.98 and a two-hundred day simple moving average of $33.37. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -16.22 and a beta of 2.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.35). The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.73) earnings per share. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CZR shares. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Macquarie lowered their price objective on Caesars Entertainment from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Susquehanna increased their target price on Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Barclays lifted their price target on Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley cut their price objective on Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $45.64.

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.