Royal Bank of Canada Has $45.84 Million Stock Position in Caesars Entertainment, Inc. $CZR

Key Points

• Royal Bank of Canada significantly increased its stake in Caesars Entertainment by 477.7%, now owning approximately 1.83 million shares valued at $45.8 million.
• Institutional investors hold 91.79% of Caesars Entertainment's stock, with notable increases from firms like Vanguard and DAVENPORT & Co LLC during the first quarter.
• Analysts have mixed predictions for the company's stock, with a consensus rating of "Moderate Buy" and an average target price of $42.47, although some analysts have recently lowered their price targets.

Royal Bank of Canada boosted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 477.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,833,567 shares of the company's stock after acquiring an additional 1,516,153 shares during the quarter. Royal Bank of Canada owned about 0.88% of Caesars Entertainment worth $45,839,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in shares of Caesars Entertainment by 60.5% in the 4th quarter. Deutsche Bank AG now owns 1,206,435 shares of the company's stock worth $40,319,000 after purchasing an additional 454,988 shares in the last quarter. Ethic Inc. boosted its holdings in Caesars Entertainment by 11.5% during the fourth quarter. Ethic Inc. now owns 7,038 shares of the company's stock worth $235,000 after buying an additional 727 shares in the last quarter. Focus Partners Wealth acquired a new position in Caesars Entertainment in the fourth quarter worth approximately $844,000. Graham Capital Management L.P. bought a new position in shares of Caesars Entertainment in the fourth quarter valued at $237,000. Finally, Gotham Asset Management LLC lifted its position in shares of Caesars Entertainment by 81.1% during the 4th quarter. Gotham Asset Management LLC now owns 142,298 shares of the company's stock valued at $4,756,000 after acquiring an additional 63,743 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Up 1.1%

Shares of CZR traded up $0.27 during trading hours on Thursday, reaching $25.90. The company's stock had a trading volume of 4,022,285 shares, compared to its average volume of 5,460,726. The company has a 50 day moving average of $27.22 and a two-hundred day moving average of $27.53. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of -28.15 and a beta of 2.24. Caesars Entertainment, Inc. has a 1-year low of $21.40 and a 1-year high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) earnings per share. As a group, research analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CZR shares. JMP Securities decreased their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 30th. Barclays dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They set a "buy" rating and a $36.00 price objective for the company. Truist Financial dropped their target price on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Cfra restated a "hold" rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.47.

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.