Oppenheimer Asset Management Inc. Boosts Stock Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Oppenheimer Asset Management Inc. grew its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 16.7% in the third quarter, Holdings Channel.com reports. The firm owned 18,147 shares of the company’s stock after acquiring an additional 2,595 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Caesars Entertainment were worth $757,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $51,000. GAMMA Investing LLC grew its position in shares of Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares in the last quarter. Signaturefd LLC grew its position in shares of Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Caesars Entertainment by 8.0% in the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CZR shares. Barclays reduced their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research note on Monday, October 14th. Wells Fargo & Company lowered their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Susquehanna reaffirmed a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $36.54 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52 week low of $31.74 and a 52 week high of $50.51. The stock has a market capitalization of $7.76 billion, a PE ratio of -21.88 and a beta of 2.96. The firm has a 50 day moving average of $41.58 and a two-hundred day moving average of $38.31.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, research analysts predict that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

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.