The Manufacturers Life Insurance Company Has $7.03 Million Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

The Manufacturers Life Insurance Company grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 168,516 shares of the company’s stock after buying an additional 582 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Caesars Entertainment worth $7,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Caesars Entertainment by 9.8% during the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after acquiring an additional 256 shares during the period. Private Advisor Group LLC grew its position in Caesars Entertainment by 3.0% in the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock valued at $453,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after acquiring an additional 403 shares during the period. Finally, Fiduciary Family Office LLC grew its position in shares of Caesars Entertainment by 1.7% in the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after acquiring an additional 424 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 1.2 %

Shares of Caesars Entertainment stock opened at $38.63 on Thursday. The firm has a market cap of $8.21 billion, a PE ratio of -22.86 and a beta of 2.89. Caesars Entertainment, Inc. has a 1 year low of $31.74 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a fifty day moving average price of $41.33 and a 200-day moving average price of $38.47.

Caesars Entertainment (NASDAQ:CZR) last released its 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). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CZR. Wells Fargo & Company dropped their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Macquarie reissued an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.86.

About Caesars Entertainment

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.