Caesars Entertainment (CZR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Caesars Entertainment (NASDAQ:CZR) from a hold rating to a sell rating in a report released on Monday morning.

According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Caesars Entertainment from a hold rating to a sell rating in a research note on Tuesday, November 14th. Nomura started coverage on shares of Caesars Entertainment in a research note on Friday, October 6th. They issued a neutral rating and a $14.00 target price for the company. ValuEngine downgraded shares of Caesars Entertainment from a hold rating to a sell rating in a research note on Monday, October 2nd. SunTrust Banks started coverage on shares of Caesars Entertainment in a research note on Friday, September 15th. They issued a buy rating and a $14.00 target price for the company. Finally, Instinet started coverage on shares of Caesars Entertainment in a research note on Friday, October 6th. They issued a neutral rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.39.

Shares of Caesars Entertainment (NASDAQ:CZR) opened at $12.50 on Monday. The company has a debt-to-equity ratio of -1.69, a current ratio of 0.48 and a quick ratio of 0.48. Caesars Entertainment has a 12-month low of $7.05 and a 12-month high of $13.60.

Several institutional investors and hedge funds have recently bought and sold shares of CZR. KCG Holdings Inc. purchased a new position in Caesars Entertainment during the first quarter valued at approximately $116,000. BNP Paribas Arbitrage SA grew its stake in Caesars Entertainment by 88.0% during the second quarter. BNP Paribas Arbitrage SA now owns 10,449 shares of the company’s stock valued at $125,000 after acquiring an additional 4,892 shares in the last quarter. Quantbot Technologies LP grew its stake in Caesars Entertainment by 647.9% in the 2nd quarter. Quantbot Technologies LP now owns 12,116 shares of the company’s stock worth $145,000 after buying an additional 10,496 shares in the last quarter. Airain ltd purchased a new position in Caesars Entertainment in the 2nd quarter worth approximately $161,000. Finally, Stevens Capital Management LP purchased a new position in Caesars Entertainment in the 3rd quarter worth approximately $185,000. Hedge funds and other institutional investors own 20.47% of the company’s stock.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s resorts operate primarily under the Harrah’s, Caesars and Horseshoe brand names.

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