Caesars Entertainment (NASDAQ:CZR) Director Michael Pegram Sells 55,000 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Caesars Entertainment Stock Down 0.1%

Shares of NASDAQ:CZR opened at $29.18 on Thursday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $31.58. The business’s 50 day simple moving average is $27.45 and its two-hundred day simple moving average is $24.75. The firm has a market cap of $5.94 billion, a P/E ratio of -12.31 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned ($0.54) earnings per share. Caesars Entertainment’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of large investors have recently added to or reduced their stakes in CZR. Hantz Financial Services Inc. grew its position 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 acquiring an additional 510 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the period. Sunbelt Securities Inc. lifted its stake in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the last quarter. Finally, Stance Capital LLC bought a new position in Caesars Entertainment during the third quarter valued at $43,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Citizens Jmp upped their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Barclays dropped their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday. Finally, Citigroup increased their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.80.

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.