Huntington National Bank Boosts Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Huntington National Bank lifted its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 3,203.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 859 shares of the company’s stock after acquiring an additional 833 shares during the quarter. Huntington National Bank’s holdings in Caesars Entertainment were worth $36,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 in the last quarter. Capital Research Global Investors grew its stake in Caesars Entertainment by 26.9% in 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 in the last quarter. Janus Henderson Group PLC increased its holdings 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. EdgePoint Investment Group Inc. raised its stake in Caesars Entertainment by 1.0% during the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after buying an additional 60,184 shares in the last quarter. Finally, Nut Tree Capital Management LP lifted its holdings in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after buying an additional 1,700,000 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of CZR opened at $37.38 on Wednesday. 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 market capitalization of $7.94 billion, a P/E ratio of -22.38 and a beta of 2.96. Caesars Entertainment, Inc. has a 12-month low of $31.74 and a 12-month high of $50.51. The firm’s 50 day moving average is $41.60 and its 200-day moving average is $38.32.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. 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 business earned $0.34 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CZR shares. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Susquehanna reiterated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. JMP Securities restated a “market outperform” rating and set a $59.00 price objective on shares of Caesars Entertainment in a research report on Monday, October 14th. Jefferies Financial Group dropped their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.