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

Bank of New York Mellon Corp grew its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,371,422 shares of the company’s stock after purchasing an additional 34,816 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Caesars Entertainment worth $38,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Caesars Entertainment by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company’s stock valued at $588,721,000 after buying an additional 183,963 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Caesars Entertainment by 22.9% in the first quarter. Invesco Ltd. now owns 6,823,286 shares of the company’s stock valued at $170,582,000 after purchasing an additional 1,269,911 shares during the last quarter. DAVENPORT & Co LLC lifted its position in shares of Caesars Entertainment by 20.1% in the second quarter. DAVENPORT & Co LLC now owns 4,196,893 shares of the company’s stock worth $120,199,000 after purchasing an additional 700,978 shares in the last quarter. HG Vora Capital Management LLC boosted its holdings in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock worth $97,500,000 after purchasing an additional 1,650,000 shares during the last quarter. Finally, Hein Park Capital Management LP bought a new position in Caesars Entertainment in the first quarter valued at $60,492,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Up 0.4%

Shares of CZR opened at $19.76 on Thursday. The firm has a market cap of $4.03 billion, a P/E ratio of -17.18 and a beta of 2.32. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. Caesars Entertainment, Inc. has a 52 week low of $18.25 and a 52 week high of $40.00. The firm’s 50-day simple moving average is $23.57 and its 200 day simple moving average is $26.26.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CZR. Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Citizens Jmp decreased their price target on Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research note on Wednesday, October 29th. Finally, Barclays decreased their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and an average target price of $37.82.

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.