Caesars Entertainment, Inc. $CZR Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 25.2% in the second quarter, Holdings Channel.com reports. The fund owned 20,594 shares of the company’s stock after purchasing an additional 4,148 shares during the period. PNC Financial Services Group Inc.’s holdings in Caesars Entertainment were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hein Park Capital Management LP purchased a new position in shares of Caesars Entertainment during the 1st quarter worth approximately $60,492,000. HG Vora Capital Management LLC lifted its stake 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 in the last quarter. Duquesne Family Office LLC acquired a new position in Caesars Entertainment during the first quarter worth $38,711,000. Royal Bank of Canada boosted its position in shares of Caesars Entertainment by 477.7% during the first quarter. Royal Bank of Canada now owns 1,833,567 shares of the company’s stock worth $45,839,000 after buying an additional 1,516,153 shares during the period. Finally, Invesco Ltd. grew its stake 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 buying an additional 1,269,911 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CZR has been the subject of a number of research analyst reports. Citizens Jmp lowered their target price 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. Citigroup assumed coverage on shares of Caesars Entertainment in a research note on Friday. They issued a “neutral” rating and a $23.00 price objective for the company. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Barclays reduced their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, Stifel Nicolaus dropped their price target on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.39.

Caesars Entertainment Stock Up 7.1%

Shares of Caesars Entertainment stock opened at $21.32 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. Caesars Entertainment, Inc. has a 52-week low of $18.25 and a 52-week high of $40.00. The company has a market capitalization of $4.35 billion, a P/E ratio of -18.54 and a beta of 2.32. The company has a 50 day moving average of $22.80 and a 200 day moving average of $25.91.

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