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

M&T Bank Corp grew its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) by 163.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,013 shares of the company's stock after acquiring 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 SEC filing.

Other large investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in Caesars Entertainment by 31.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,668 shares of the company's stock valued at $265,000 after buying an additional 1,591 shares during the last quarter. Blue Trust Inc. raised its position in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company's stock worth $26,000 after acquiring an additional 499 shares during the period. Raymond James & Associates raised its position in Caesars Entertainment by 3.3% in the second quarter. Raymond James & Associates now owns 152,158 shares of the company's stock worth $6,047,000 after acquiring an additional 4,818 shares during the period. Calamos Wealth Management LLC purchased a new position in shares of Caesars Entertainment during the 2nd quarter worth $10,246,000. Finally, Calamos Advisors LLC grew its position in shares of Caesars Entertainment by 0.4% during the 2nd quarter. Calamos Advisors LLC now owns 198,356 shares of the company's stock valued at $7,883,000 after acquiring an additional 726 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company cut their price target on Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Macquarie restated an "outperform" rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. JMP Securities cut their price target on Caesars Entertainment from $59.00 to $57.00 and set a "market outperform" rating for the company in a research note on Monday, November 25th. Finally, Barclays dropped their price objective on Caesars Entertainment from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.71.

Caesars Entertainment Trading Down 1.3 %

Shares of NASDAQ CZR traded down $0.49 during trading hours on Monday, hitting $36.52. 3,649,664 shares of the company traded hands, compared to its average volume of 4,111,404. The company's 50 day moving average price is $40.58 and its 200 day moving average price is $38.68. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $49.65. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of -22.16 and a beta of 2.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

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

Caesars Entertainment Company 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.