Bank of Montreal Can Has $9.89 Million Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of Montreal Can cut its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 76.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237,283 shares of the company’s stock after selling 780,201 shares during the period. Bank of Montreal Can’s holdings in Caesars Entertainment were worth $9,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after acquiring an additional 1,418,318 shares in the last quarter. Helikon Investments Ltd acquired a new stake in Caesars Entertainment in the 2nd quarter valued at $37,763,000. Northwestern Mutual Wealth Management Co. increased its stake in Caesars Entertainment by 783.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 928,529 shares of the company’s stock valued at $36,900,000 after buying an additional 823,428 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Caesars Entertainment by 183.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 801,237 shares of the company’s stock worth $31,841,000 after buying an additional 518,369 shares in the last quarter. Finally, Highland Peak Capital LLC grew its holdings in shares of Caesars Entertainment by 215.0% in the 2nd quarter. Highland Peak Capital LLC now owns 619,987 shares of the company’s stock valued at $24,638,000 after acquiring an additional 423,170 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CZR shares. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays cut their price objective on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.86.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $38.49 on Monday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -23.05 and a beta of 2.96. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. The stock’s 50 day moving average is $41.43 and its 200-day moving average is $38.41.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts expect that Caesars Entertainment, Inc. will post -0.56 EPS for the current 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.