Comerica Bank Reduces Holdings in Caesars Entertainment, Inc. $CZR

Comerica Bank lessened its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 74.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,610 shares of the company’s stock after selling 84,204 shares during the period. Comerica Bank’s holdings in Caesars Entertainment were worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC lifted its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Caesars Entertainment by 1.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after purchasing an additional 493 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Caesars Entertainment by 110.6% during 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 during the period. Corient Private Wealth LLC raised its stake in shares of Caesars Entertainment by 3.5% during the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after purchasing an additional 549 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Caesars Entertainment by 1.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock valued at $959,000 after purchasing an additional 562 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $27.77 on Tuesday. The business’s 50-day moving average price is $26.97 and its two-hundred day moving average price is $23.84. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58. The stock has a market cap of $5.66 billion, a P/E ratio of -11.72 and a beta of 1.77. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the business earned ($0.54) EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CZR has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Barclays decreased their price objective on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Jefferies Financial Group boosted their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.27.

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.