Franklin Resources Inc. Decreases Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Franklin Resources Inc. cut its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 14.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,856 shares of the company’s stock after selling 833 shares during the quarter. Franklin Resources Inc.’s holdings in Caesars Entertainment were worth $221,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Huntington National Bank grew its stake in shares of Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after buying an additional 833 shares in the last quarter. UMB Bank n.a. purchased a new position in Caesars Entertainment in the third quarter worth about $51,000. Quarry LP bought a new stake in Caesars Entertainment during the third quarter worth approximately $68,000. GAMMA Investing LLC raised its position in Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 1,105 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CZR shares. Wells Fargo & Company decreased their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.71.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $33.42 on Thursday. Caesars Entertainment, Inc. has a twelve month low of $31.74 and a twelve month high of $48.57. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a fifty day simple moving average of $37.80 and a two-hundred day simple moving average of $38.44. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -20.01 and a beta of 2.89.

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 analysts’ consensus estimates 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 business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, analysts predict that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal 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.