PNC Financial Services Group Inc. Raises Stock Position in Caesars Entertainment, Inc. $CZR

PNC Financial Services Group Inc. boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 25.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 20,594 shares of the company’s stock after acquiring 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.

Several other institutional investors have also modified their holdings of CZR. Y Intercept Hong Kong Ltd acquired a new stake in Caesars Entertainment in the 2nd quarter worth about $592,000. Assenagon Asset Management S.A. lifted its position in shares of Caesars Entertainment by 103.5% in the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock valued at $4,719,000 after acquiring an additional 84,545 shares in the last quarter. Penn Capital Management Company LLC boosted its stake in shares of Caesars Entertainment by 101.9% in the first quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company’s stock worth $1,154,000 after acquiring an additional 22,812 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Caesars Entertainment during the first quarter worth approximately $540,000. Finally, HG Vora Capital Management LLC raised its stake in Caesars Entertainment by 73.3% in the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after purchasing an additional 1,650,000 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $21.32 on Friday. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. The company has a market capitalization of $4.35 billion, a PE ratio of -18.54 and a beta of 2.32. The firm’s 50-day moving average is $22.80 and its two-hundred day moving average is $25.91. Caesars Entertainment, Inc. has a 12 month low of $18.25 and a 12 month high of $40.00.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results 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). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. Analysts predict that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Susquehanna lowered their price target on shares of Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Stifel Nicolaus dropped their price objective 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. Wall Street Zen lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. dropped their price target on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.39.

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.