Mackenzie Financial Corp Buys 125,779 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

Mackenzie Financial Corp increased its holdings in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 1,713.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,120 shares of the company’s stock after buying an additional 125,779 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Caesars Entertainment worth $5,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CZR. TFO Wealth Partners LLC lifted its position in shares of Caesars Entertainment by 22,920.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Caesars Entertainment by 2.9% during the 4th quarter. Rafferty Asset Management LLC now owns 33,878 shares of the company’s stock worth $1,588,000 after buying an additional 945 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $334,000. Capital World Investors lifted its position in shares of Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Caesars Entertainment by 81.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 42,844 shares of the company’s stock worth $2,009,000 after buying an additional 19,172 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CZR has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Jefferies Financial Group dropped their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JMP Securities increased their target price on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research report on Thursday, August 22nd. Susquehanna reiterated a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their target price on Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Caesars Entertainment Trading Down 2.3 %

Shares of CZR stock opened at $40.80 on Wednesday. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 11.56 and a beta of 2.96. The stock has a 50-day moving average of $37.40 and a 200-day moving average of $37.84. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment, Inc. has a 1-year low of $31.74 and a 1-year high of $50.51.

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

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.