The Manufacturers Life Insurance Company Acquires 2,151 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR)

The Manufacturers Life Insurance Company increased its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,934 shares of the company’s stock after purchasing an additional 2,151 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Caesars Entertainment worth $6,674,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CZR. Blue Trust Inc. increased its stake in shares of Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after buying an additional 499 shares during the period. Mather Group LLC. acquired a new stake in Caesars Entertainment in the 1st quarter valued at about $53,000. GAMMA Investing LLC raised its position in shares of Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Caesars Entertainment in the 4th quarter valued at $93,000. Finally, Signaturefd LLC raised its holdings in Caesars Entertainment by 77.0% in the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after acquiring an additional 1,105 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of recent research reports. Morgan Stanley cut their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Jefferies Financial Group reduced their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, JMP Securities boosted their price objective on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Caesars Entertainment Stock Performance

CZR opened at $44.47 on Friday. Caesars Entertainment, Inc. has a 12-month low of $31.74 and a 12-month high of $50.51. 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 firm has a market capitalization of $9.62 billion, a PE ratio of 12.60 and a beta of 2.97. The firm has a 50 day moving average of $38.06 and a two-hundred day moving average of $37.94.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly 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). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. On average, analysts anticipate that Caesars Entertainment, Inc. will post -0.02 EPS 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.