Charles Schwab Investment Management Inc. Purchases 58,170 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Charles Schwab Investment Management Inc. increased its position in Caesars Entertainment, owning 1,935,141 shares worth approximately $48.4 million after acquiring 58,170 additional shares in Q1.
• Caesars Entertainment reported a revenue of $2.91 billion for its last quarter, exceeding analyst estimates, but posted a loss of ($0.39) EPS compared to expectations of a profit.
• The stock has a market cap of $5.27 billion and currently has an average rating of "Moderate Buy" with a price target of $42.47 according to analysts.

Charles Schwab Investment Management Inc. lifted its position in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,141 shares of the company's stock after acquiring an additional 58,170 shares during the period. Charles Schwab Investment Management Inc. owned about 0.93% of Caesars Entertainment worth $48,379,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its position in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares in the last quarter. Fifth Lane Capital LP increased its position in shares of Caesars Entertainment by 6.3% in the fourth quarter. Fifth Lane Capital LP now owns 8,500 shares of the company's stock worth $284,000 after acquiring an additional 500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Caesars Entertainment by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,207 shares of the company's stock valued at $608,000 after purchasing an additional 549 shares in the last quarter. American Trust grew its position in Caesars Entertainment by 8.7% during the fourth quarter. American Trust now owns 7,505 shares of the company's stock valued at $251,000 after purchasing an additional 601 shares in the last quarter. Finally, Allworth Financial LP grew its position in Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after purchasing an additional 662 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Down 0.9%

NASDAQ CZR traded down $0.22 during trading on Thursday, reaching $25.00. The company's stock had a trading volume of 4,986,743 shares, compared to its average volume of 6,807,073. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $5.20 billion, a PE ratio of -27.17 and a beta of 2.40. The business has a 50-day moving average price of $27.81 and a 200-day moving average price of $28.64. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The firm had revenue of $2.91 billion during 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%.Caesars Entertainment's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. On average, research analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CZR. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna lowered their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Barclays lowered their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Truist Financial lowered their price objective 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, JMP Securities lowered their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.