Fifth Third Bancorp Acquires 31,411 Shares of Caesars Entertainment, Inc. $CZR

Fifth Third Bancorp lifted its holdings in Caesars Entertainment, Inc. (NASDAQ:CZR) by 490.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,810 shares of the company’s stock after purchasing an additional 31,411 shares during the quarter. Fifth Third Bancorp’s holdings in Caesars Entertainment were worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CZR. Caitong International Asset Management Co. Ltd boosted its position in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares during the last quarter. Sunbelt Securities Inc. raised its position in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares during the last quarter. CoreCap Advisors LLC lifted its stake in 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 acquiring an additional 488 shares during the period. Hantz Financial Services Inc. lifted its stake in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after acquiring an additional 846 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $55,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Stock Performance

CZR opened at $29.94 on Monday. The company’s 50 day moving average is $29.43 and its 200 day moving average is $26.49. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -12.63 and a beta of 1.76. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the company posted ($0.54) earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 293,463 shares of company stock valued at $8,609,241. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Finally, Barclays reaffirmed an “equal weight” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.00.

Caesars Entertainment 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.