Zacks Investment Research upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a sell rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Caesars Entertainment from a sell rating to a strong sell rating in a research report on Wednesday, May 30th. ValuEngine raised shares of Caesars Entertainment from a sell rating to a hold rating in a research report on Saturday, June 2nd. Bank of America began coverage on shares of Caesars Entertainment in a research report on Monday, July 23rd. They set a buy rating and a $14.00 price objective for the company. UBS Group began coverage on shares of Caesars Entertainment in a research report on Monday. They set a sell rating and a $9.00 price objective for the company. Finally, Deutsche Bank began coverage on shares of Caesars Entertainment in a research report on Tuesday, September 4th. They set a buy rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $13.55.

Shares of CZR opened at $10.40 on Monday. Caesars Entertainment has a 1-year low of $8.55 and a 1-year high of $14.50. The company has a quick ratio of 1.96, a current ratio of 1.98 and a debt-to-equity ratio of 5.52.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Wednesday, August 1st. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Caesars Entertainment had a net margin of 21.90% and a negative return on equity of 4.71%. The firm’s revenue for the quarter was up 110.2% on a year-over-year basis. During the same period in the previous year, the company earned ($9.62) earnings per share. research analysts expect that Caesars Entertainment will post -0.04 earnings per share for the current year.

In related news, insider Mark P. Frissora acquired 100,000 shares of Caesars Entertainment stock in a transaction on Friday, August 3rd. The stock was purchased at an average cost of $9.55 per share, with a total value of $955,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Boushy bought 10,000 shares of Caesars Entertainment stock in a transaction dated Tuesday, August 7th. The stock was acquired at an average cost of $9.95 per share, with a total value of $99,500.00. Following the transaction, the director now owns 46,139 shares of the company’s stock, valued at approximately $459,083.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 125,000 shares of company stock valued at $1,199,150. Company insiders own 0.92% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its position in shares of Caesars Entertainment by 190.0% in the second quarter. Point72 Asset Management L.P. now owns 25,119,068 shares of the company’s stock valued at $268,774,000 after acquiring an additional 16,457,482 shares during the period. Long Pond Capital LP boosted its position in shares of Caesars Entertainment by 6.2% in the second quarter. Long Pond Capital LP now owns 23,450,216 shares of the company’s stock valued at $250,917,000 after acquiring an additional 1,368,988 shares during the period. BlackRock Inc. boosted its position in shares of Caesars Entertainment by 40.0% in the second quarter. BlackRock Inc. now owns 17,255,685 shares of the company’s stock valued at $184,635,000 after acquiring an additional 4,931,707 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Caesars Entertainment by 322.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 8,257,388 shares of the company’s stock valued at $88,354,000 after acquiring an additional 6,304,874 shares during the period. Finally, Blackstone Group L.P. bought a new stake in shares of Caesars Entertainment in the first quarter valued at about $47,836,000.

About Caesars Entertainment

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

Further Reading: Short Selling

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