Bank of New York Mellon Corp Trims Stake in Caesars Entertainment, Inc. (NASDAQ:CZR)

Bank of New York Mellon Corp lowered its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,305,868 shares of the company’s stock after selling 13,500 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Caesars Entertainment worth $43,642,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. increased its stake in Caesars Entertainment by 52.8% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 172,080 shares of the company’s stock worth $5,751,000 after buying an additional 59,496 shares during the period. Paradigm Asset Management Co. LLC purchased a new position in Caesars Entertainment in the 4th quarter worth about $755,000. Wolverine Asset Management LLC increased its stake in Caesars Entertainment by 660.8% in the 4th quarter. Wolverine Asset Management LLC now owns 346,692 shares of the company’s stock worth $11,586,000 after buying an additional 301,121 shares during the period. ING Groep NV purchased a new position in Caesars Entertainment in the 4th quarter worth about $35,797,000. Finally, Private Wealth Partners LLC increased its stake in Caesars Entertainment by 12.3% in the 4th quarter. Private Wealth Partners LLC now owns 294,505 shares of the company’s stock worth $9,842,000 after buying an additional 32,300 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. JMP Securities cut their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group cut their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and an average price target of $50.43.

Caesars Entertainment Stock Down 4.8 %

CZR stock opened at $28.91 on Friday. The firm has a 50 day moving average of $34.55 and a 200 day moving average of $37.70. The stock has a market capitalization of $6.13 billion, a PE ratio of -17.31 and a beta of 2.90. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment, Inc. has a 52 week low of $28.85 and a 52 week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share 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.