M&T Bank Corp Grows Position in Caesars Entertainment, Inc. (NASDAQ:CZR)

M&T Bank Corp lifted its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 163.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 26,013 shares of the company’s stock after purchasing an additional 16,150 shares during the quarter. M&T Bank Corp’s holdings in Caesars Entertainment were worth $1,086,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares during the period. Huntington National Bank lifted its holdings in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. purchased a new stake in Caesars Entertainment during the 3rd quarter worth $51,000. Quarry LP acquired a new stake in Caesars Entertainment in the 3rd quarter valued at $68,000. Finally, GAMMA Investing LLC raised its position in Caesars Entertainment by 25.1% in 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. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 2.1 %

Shares of Caesars Entertainment stock opened at $37.01 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The business has a 50-day moving average price of $40.58 and a 200 day moving average price of $38.68. Caesars Entertainment, Inc. has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The firm has a market cap of $7.86 billion, a P/E ratio of -22.16 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CZR shares. JMP Securities decreased their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays decreased their target price on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.71.

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.