Pekin Hardy Strauss Inc. Acquires 49,769 Shares of Caesars Entertainment, Inc. $CZR

Pekin Hardy Strauss Inc. increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,658 shares of the company’s stock after purchasing an additional 49,769 shares during the quarter. Pekin Hardy Strauss Inc. owned 0.13% of Caesars Entertainment worth $7,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $28,000. Salomon & Ludwin LLC bought a new stake in Caesars Entertainment during the third quarter valued at $41,000. Zions Bancorporation National Association UT grew its stake in Caesars Entertainment by 5,384.4% during the third quarter. Zions Bancorporation National Association UT now owns 1,755 shares of the company’s stock worth $47,000 after purchasing an additional 1,723 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $49,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays reduced their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $24.00 in a report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.35.

Caesars Entertainment Trading Up 2.2%

Caesars Entertainment stock opened at $21.89 on Friday. The stock has a market cap of $4.46 billion, a P/E ratio of -9.01, a PEG ratio of 27.74 and a beta of 2.03. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.76 and a current ratio of 0.80. The firm’s fifty day moving average price is $22.74 and its 200-day moving average price is $23.39. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $38.43.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.