Oppenheimer Asset Management Inc. Purchases 2,595 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Oppenheimer Asset Management Inc. lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 16.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,147 shares of the company’s stock after purchasing an additional 2,595 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Caesars Entertainment were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CZR. Blue Trust Inc. increased its position in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after acquiring an additional 499 shares during the last quarter. UMB Bank n.a. purchased a new stake in Caesars Entertainment during the third quarter valued at approximately $51,000. GAMMA Investing LLC raised its position in Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the period. Signaturefd LLC raised its holdings in shares of Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after buying an additional 1,105 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Caesars Entertainment by 8.0% in the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after buying an additional 256 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CZR. Jefferies Financial Group decreased their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JMP Securities restated a “market outperform” rating and set a $59.00 target price on shares of Caesars Entertainment in a research note on Monday, October 14th. Stifel Nicolaus boosted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $36.54 on Tuesday. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of -21.88 and a beta of 2.96. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $50.51. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a 50-day moving average of $41.58 and a 200 day moving average of $38.31.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.54 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.