Raymond James Financial Inc. Has $11.03 Million Stock Holdings in Caesars Entertainment, Inc. $CZR

Key Points

• Raymond James Financial Inc. increased its stake in Caesars Entertainment by 64.2% during the first quarter, owning approximately 0.21% of the company, valued at $11,030,000.
• Several institutional investors also boosted their positions in Caesars, with notable increases from DAVENPORT & Co LLC, which grew its stake by 1,051.1%.
• The stock is currently showing a 1.8% decline, with analysts providing a consensus price target of $42.47 and a general rating of Moderate Buy.

Raymond James Financial Inc. lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 64.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 441,211 shares of the company's stock after purchasing an additional 172,551 shares during the period. Raymond James Financial Inc. owned 0.21% of Caesars Entertainment worth $11,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cresset Asset Management LLC bought a new stake in Caesars Entertainment during the first quarter worth $209,000. Caitong International Asset Management Co. Ltd grew its position in shares of Caesars Entertainment by 99.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock valued at $79,000 after acquiring an additional 1,572 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of 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 purchasing an additional 477 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Caesars Entertainment by 2.9% in the 1st quarter. Public Sector Pension Investment Board now owns 56,790 shares of the company's stock valued at $1,420,000 after purchasing an additional 1,627 shares during the period. Finally, Nuveen LLC acquired a new stake in Caesars Entertainment in the 1st quarter valued at about $10,828,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded up $0.65 during trading on Thursday, reaching $25.54. The company's stock had a trading volume of 1,979,904 shares, compared to its average volume of 5,573,094. 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 business's 50-day moving average price is $27.60 and its 200-day moving average price is $28.01. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The firm has a market cap of $5.31 billion, a PE ratio of -27.73 and a beta of 2.24.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate 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 revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.56) earnings per share. Equities analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CZR shares. Morgan Stanley lowered their price target on 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. Macquarie reduced their target price on Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Stifel Nicolaus increased their price target on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Cfra reaffirmed a "hold" rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. One research 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

About Caesars Entertainment

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.