Bank of New York Mellon Corp Acquires 34,816 Shares of Caesars Entertainment, Inc. $CZR

Bank of New York Mellon Corp lifted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,371,422 shares of the company’s stock after purchasing an additional 34,816 shares during the quarter. Bank of New York Mellon Corp’s holdings in Caesars Entertainment were worth $38,935,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CZR. JFS Wealth Advisors LLC raised its holdings in Caesars Entertainment by 508.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock valued at $25,000 after acquiring an additional 722 shares in the last quarter. UMB Bank n.a. increased its position in shares of Caesars Entertainment by 52.0% in the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after purchasing an additional 359 shares during the period. Farther Finance Advisors LLC raised its stake in Caesars Entertainment by 168.5% in the second quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock valued at $32,000 after purchasing an additional 711 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Caesars Entertainment by 69.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock worth $33,000 after buying an additional 478 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Caesars Entertainment in the 2nd quarter valued at about $35,000. 91.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CZR shares. JMP Securities cut their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating for the company in a report on Friday, October 17th. Barclays cut their target price on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Susquehanna reduced their target price on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Citizens Jmp lowered their price target on Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a report on Wednesday, October 29th. Finally, Morgan Stanley dropped their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.82.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $19.76 on Thursday. The company has a market capitalization of $4.03 billion, a PE ratio of -17.18 and a beta of 2.32. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. The stock has a 50-day moving average price of $23.57 and a two-hundred day moving average price of $26.26. Caesars Entertainment, Inc. has a 12 month low of $18.25 and a 12 month high of $40.00.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned ($0.04) EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

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.