Rhumbline Advisers Buys 118,581 Shares of Caesars Entertainment, Inc. $CZR

Key Points

• Rhumbline Advisers increased its stake in Caesars Entertainment by 38.8%, purchasing 118,581 shares to reach a total of 424,448 shares valued at $10.61 million.
• Institutional investors own 91.79% of Caesars Entertainment, with several firms significantly increasing their positions during the first quarter.
• Analysts have mixed sentiments on Caesars Entertainment, with target prices ranging from $27 to $48 and a consensus rating of "Moderate Buy".

Rhumbline Advisers lifted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 38.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,448 shares of the company's stock after purchasing an additional 118,581 shares during the period. Rhumbline Advisers owned 0.20% of Caesars Entertainment worth $10,611,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mather Group LLC. boosted 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 valued at $26,000 after acquiring an additional 405 shares during the period. Allworth Financial LP boosted its holdings 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 purchasing an additional 662 shares during the period. Bogart Wealth LLC grew its position in shares of Caesars Entertainment by 82.8% during the 1st quarter. Bogart Wealth LLC now owns 1,545 shares of the company's stock valued at $39,000 after purchasing an additional 700 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position 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 valued at $46,000 after purchasing an additional 477 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Caesars Entertainment by 99.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,157 shares of the company's stock worth $79,000 after purchasing an additional 1,572 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Stock Up 0.9%

NASDAQ CZR opened at $25.63 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. Caesars Entertainment, Inc. has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a market capitalization of $5.33 billion, a P/E ratio of -27.86 and a beta of 2.24. The stock's 50-day moving average price is $27.29 and its 200-day moving average price is $27.59.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) 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 analysts' expectations 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% on a year-over-year basis. During the same period last year, the company earned ($0.56) earnings per share. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CZR shares. Stifel Nicolaus boosted their target price on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Susquehanna cut their target price on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company 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.

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