Comerica Bank raised its holdings in shares of Caesars Entertainment Co. (NASDAQ:CZR) by 941.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,058 shares of the company’s stock after purchasing an additional 243,232 shares during the quarter. Comerica Bank’s holdings in Caesars Entertainment were worth $2,435,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cohen Capital Management Inc. lifted its holdings in shares of Caesars Entertainment by 0.6% in the fourth quarter. Cohen Capital Management Inc. now owns 431,137 shares of the company’s stock worth $2,927,000 after buying an additional 2,380 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Caesars Entertainment in the first quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Caesars Entertainment by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,676 shares of the company’s stock worth $269,000 after buying an additional 3,087 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Caesars Entertainment by 4.2% in the fourth quarter. United Services Automobile Association now owns 92,702 shares of the company’s stock worth $629,000 after buying an additional 3,766 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Caesars Entertainment by 20.1% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 25,100 shares of the company’s stock worth $170,000 after buying an additional 4,200 shares in the last quarter.
In related news, VP Les Ottolenghi sold 17,240 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.74, for a total value of $150,677.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 97,460 shares of company stock worth $840,337. 0.51% of the stock is owned by company insiders.
CZR stock opened at $9.06 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 6.02. The company has a market capitalization of $6.13 billion, a P/E ratio of -47.68 and a beta of 1.21. Caesars Entertainment Co. has a 1-year low of $5.84 and a 1-year high of $12.80.
Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.13). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.08 billion. Caesars Entertainment had a negative return on equity of 9.84% and a net margin of 1.41%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts predict that Caesars Entertainment Co. will post -0.39 earnings per share for the current year.
A number of equities research analysts have recently issued reports on CZR shares. BidaskClub raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. UBS Group increased their price target on shares of Caesars Entertainment from $7.00 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Deutsche Bank reissued a “buy” rating and issued a $11.00 price target on shares of Caesars Entertainment in a report on Monday, February 25th. Credit Suisse Group reissued an “outperform” rating and issued a $13.00 price target on shares of Caesars Entertainment in a report on Wednesday, March 20th. Finally, ValuEngine upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Caesars Entertainment presently has an average rating of “Hold” and an average target price of $12.06.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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