Caesars Entertainment (NASDAQ:CZR) Director Michael Pegram Sells 36,027 Shares

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 36,027 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $29.31, for a total value of $1,055,951.37. Following the sale, the director owned 91,697 shares in the company, valued at approximately $2,687,639.07. The trade was a 28.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Caesars Entertainment Stock Up 0.1%

CZR stock traded up $0.02 during midday trading on Wednesday, hitting $29.47. 5,396,275 shares of the company’s stock were exchanged, compared to its average volume of 6,563,017. The firm has a 50 day moving average price of $27.68 and a 200-day moving average price of $25.01. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of -12.43 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS 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 for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the company posted ($0.54) earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Cyrus Capital Partners L.P. acquired a new stake in shares of Caesars Entertainment during the first quarter worth $37,795,000. Edgestream Partners L.P. bought a new stake in shares of Caesars Entertainment during the 1st quarter valued at about $2,225,000. Janus Henderson Group PLC grew its position in shares of Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after buying an additional 355,760 shares during the last quarter. Amundi raised its stake in Caesars Entertainment by 205.1% during the first quarter. Amundi now owns 1,587,634 shares of the company’s stock worth $41,961,000 after acquiring an additional 1,067,259 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after acquiring an additional 702 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CZR. Jefferies Financial Group raised their price objective on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, April 6th. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Barclays decreased their price target on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Morgan Stanley lifted their price target on Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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.