Caesars Entertainment, Inc. $CZR Shares Purchased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in Caesars Entertainment by 32.5%, acquiring an additional 122,404 shares, bringing its total holdings to 499,372 shares valued at approximately $12.5 million.
• Caesars Entertainment's recent quarterly earnings revealed a loss of ($0.39) per share, significantly missing expectations, although revenue of $2.91 billion surpassed estimates.
• Analysts have given Caesars a consensus rating of "Moderate Buy", with a price target averaging $42.47, reflecting varying outlooks on its future performance.

Gamco Investors INC. ET AL grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499,372 shares of the company's stock after acquiring an additional 122,404 shares during the period. Gamco Investors INC. ET AL owned about 0.24% of Caesars Entertainment worth $12,484,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in Caesars Entertainment by 64.4% during the 1st 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. Allworth Financial LP grew its holdings in Caesars Entertainment by 97.8% during the 1st quarter. Allworth Financial LP now owns 1,339 shares of the company's stock worth $36,000 after acquiring an additional 662 shares in the last quarter. Bogart Wealth LLC grew its holdings in Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock worth $39,000 after acquiring an additional 700 shares in the last quarter. Resona Asset Management Co. Ltd. grew its holdings in Caesars Entertainment by 35.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock worth $46,000 after acquiring an additional 477 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in Caesars Entertainment during the 4th quarter worth $105,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CZR shares. Stifel Nicolaus raised their price objective on shares of Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Citigroup restated a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Finally, Morgan Stanley reduced their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. 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. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded down $0.48 during trading hours on Friday, reaching $26.77. The company's stock had a trading volume of 5,572,627 shares, compared to its average volume of 6,110,991. The company's 50 day simple moving average is $27.79 and its 200 day simple moving average is $28.26. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. Caesars Entertainment, Inc. has a one year low of $21.40 and a one year high of $45.93. The stock has a market cap of $5.57 billion, a P/E ratio of -29.10 and a beta of 2.40.

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 the consensus estimate of $0.07 by ($0.46). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The company'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 earned ($0.56) earnings per share. As a group, analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Caesars Entertainment 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.