BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 15,740 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Caesars Entertainment, Inc. (NASDAQ:CZR) by 61.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 41,461 shares of the company’s stock after buying an additional 15,740 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Caesars Entertainment were worth $1,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CZR. Engine Capital Management LP raised its position in Caesars Entertainment by 9.0% during the second quarter. Engine Capital Management LP now owns 849,090 shares of the company’s stock valued at $33,743,000 after purchasing an additional 70,000 shares in the last quarter. Bank of Montreal Can increased its holdings in Caesars Entertainment by 451.6% in the 2nd quarter. Bank of Montreal Can now owns 1,017,484 shares of the company’s stock worth $40,577,000 after purchasing an additional 833,039 shares in the last quarter. Public Sector Pension Investment Board raised its position in Caesars Entertainment by 65.2% in the second quarter. Public Sector Pension Investment Board now owns 8,166 shares of the company’s stock valued at $325,000 after purchasing an additional 3,224 shares during the last quarter. Atlas Merchant Capital LLC acquired a new stake in Caesars Entertainment during the 2nd quarter worth approximately $994,000. Finally, Hood River Capital Management LLC lifted its holdings in shares of Caesars Entertainment by 7.2% during the second quarter. Hood River Capital Management LLC now owns 1,075,824 shares of the company’s stock worth $42,753,000 after purchasing an additional 72,196 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CZR shares. Susquehanna reaffirmed a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. JMP Securities upped their target price on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Caesars Entertainment Trading Up 1.4 %

Shares of CZR stock opened at $41.67 on Monday. The company has a 50 day moving average of $37.30 and a 200-day moving average of $37.82. Caesars Entertainment, Inc. has a 12-month low of $31.74 and a 12-month high of $50.51. The firm has a market cap of $9.02 billion, a P/E ratio of 11.80 and a beta of 2.96. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.02 earnings per share for the current year.

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.