Caesars Entertainment (NASDAQ:CZR) Director David Tomick Sells 7,000 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,000 shares of Caesars Entertainment stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $29.66, for a total transaction of $207,620.00. Following the sale, the director owned 24,911 shares in the company, valued at $738,860.26. This represents a 21.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $29.67 on Thursday. The company has a market capitalization of $6.05 billion, a PE ratio of -13.01 and a beta of 1.75. The firm has a fifty day simple moving average of $29.78 and a 200-day simple moving average of $28.57. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted ($0.39) earnings per share. Caesars Entertainment’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. BlackRock Inc. bought a new position in Caesars Entertainment in the 2nd quarter worth about $830,001,000. Pentwater Capital Management LP acquired a new stake in shares of Caesars Entertainment in the second quarter valued at approximately $346,014,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after buying an additional 4,937,998 shares during the last quarter. Norges Bank acquired a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $76,050,000. Finally, Bank of America Corp DE acquired a new position in shares of Caesars Entertainment during the second quarter worth approximately $96,169,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on CZR shares. Raymond James Financial lowered Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Barclays reissued an “equal weight” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. TD Cowen downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Wednesday, July 29th. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Caesars Entertainment has a consensus rating of “Hold” and an average price target of $30.71.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.