Daiwa Securities Group Inc. Grows Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

Daiwa Securities Group Inc. raised its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,890 shares of the company’s stock after purchasing an additional 2,602 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Caesars Entertainment were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CZR. Private Advisor Group LLC grew its position in shares of Caesars Entertainment by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after acquiring an additional 538 shares in the last quarter. Principal Securities Inc. bought a new stake in Caesars Entertainment during the 4th quarter valued at $46,000. Dimensional Fund Advisors LP raised its stake in Caesars Entertainment by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,616,373 shares of the company’s stock valued at $75,789,000 after acquiring an additional 9,213 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Caesars Entertainment by 19.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,725 shares of the company’s stock worth $10,203,000 after buying an additional 37,098 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Caesars Entertainment by 487.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 39,472 shares of the company’s stock worth $1,850,000 after buying an additional 32,752 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $38.87 on Monday. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $54.16. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 11.01 and a beta of 2.96. The stock’s fifty day simple moving average is $36.75 and its 200-day simple moving average is $37.91.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JMP Securities boosted their price objective on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 22nd. Stifel Nicolaus boosted their price objective on Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Susquehanna reissued a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, Raymond James began coverage on Caesars Entertainment in a research note on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.14.

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.