Caesars Entertainment, Inc. $CZR Shares Bought by Charles Schwab Investment Management Inc.

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. increased its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,935,141 shares of the company's stock after purchasing an additional 58,170 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.93% of Caesars Entertainment worth $48,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Mather Group LLC. boosted its position in Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after buying an additional 405 shares during the period. Allworth Financial LP boosted its position in Caesars Entertainment by 97.8% in the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock valued at $36,000 after buying an additional 662 shares during the period. Bogart Wealth LLC boosted its position in Caesars Entertainment by 82.8% in the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after buying an additional 700 shares during the period. Canada Pension Plan Investment Board boosted its position in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company's stock valued at $53,000 after buying an additional 800 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in Caesars Entertainment by 62.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 3,352 shares of the company's stock valued at $84,000 after buying an additional 1,293 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Down 0.2%

NASDAQ:CZR traded down $0.0590 during midday trading on Wednesday, hitting $25.2210. 1,452,241 shares of the company were exchanged, compared to its average volume of 5,553,057. The company has a fifty day simple moving average of $27.91 and a 200 day simple moving average of $28.74. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. 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 company has a market capitalization of $5.25 billion, a PE ratio of -27.40 and a beta of 2.40.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced 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). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned ($0.56) earnings per share. Caesars Entertainment's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Susquehanna decreased their price target on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 price target for the company. Morgan Stanley decreased their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Cfra reissued a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, JMP Securities decreased their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment 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.