Raymond James Financial Inc. Makes New Investment in Caesars Entertainment, Inc. (NASDAQ:CZR)

Raymond James Financial Inc. acquired a new position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 268,660 shares of the company’s stock, valued at approximately $8,978,000.

Other hedge funds also recently made changes to their positions in the company. Dana Investment Advisors Inc. boosted its stake in shares of Caesars Entertainment by 10.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 122,051 shares of the company’s stock worth $4,079,000 after buying an additional 11,317 shares during the period. Arizona State Retirement System boosted its stake in shares of Caesars Entertainment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after buying an additional 470 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Caesars Entertainment during the fourth quarter worth about $478,000. M&T Bank Corp boosted its stake in shares of Caesars Entertainment by 4.3% during the fourth quarter. M&T Bank Corp now owns 27,125 shares of the company’s stock worth $906,000 after buying an additional 1,112 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Caesars Entertainment by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 825,003 shares of the company’s stock worth $27,572,000 after buying an additional 8,603 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

CZR stock opened at $27.36 on Friday. The firm has a 50 day moving average of $33.39 and a 200-day moving average of $36.92. Caesars Entertainment, Inc. has a 12-month low of $26.42 and a 12-month high of $45.93. 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 company has a market cap of $5.80 billion, a price-to-earnings ratio of -16.38 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. As a group, equities analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CZR shares. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Macquarie reduced their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a research report on Thursday, March 6th. Finally, Raymond James reduced their price objective on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment 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.