Federated Hermes Inc. Grows Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Federated Hermes Inc. raised its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,814 shares of the company’s stock after purchasing an additional 29,705 shares during the quarter. Federated Hermes Inc.’s holdings in Caesars Entertainment were worth $5,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after acquiring an additional 75,898 shares during the period. Capital Research Global Investors lifted its holdings in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares during the period. Capital World Investors lifted its holdings in shares of Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares during the period. Janus Henderson Group PLC boosted its position in Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after buying an additional 233,250 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after buying an additional 1,515,763 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CZR. Stifel Nicolaus lifted their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JMP Securities lifted their price objective on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Morgan Stanley dropped their target price on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Caesars Entertainment Trading Up 0.0 %

Shares of CZR stock opened at $40.27 on Thursday. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $51.24. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 11.30 and a beta of 2.96. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The stock has a 50 day simple moving average of $36.85 and a 200-day simple moving average of $37.86.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Caesars Entertainment, Inc. will post 0.06 EPS for the current fiscal year.

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.