Insider Selling: Caesars Entertainment (NASDAQ:CZR) Director Sells $212,188.82 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,142 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total value of $212,188.82. Following the sale, the director directly owned 17,769 shares of the company’s stock, valued at $527,916.99. This represents a 28.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $29.64 on Friday. The stock’s fifty day moving average is $29.77 and its two-hundred day moving average is $28.61. The company has a market capitalization of $6.04 billion, a PE ratio of -13.00 and a beta of 1.75. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88.

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

Key Caesars Entertainment News

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: The Fertitta Entertainment buyout provides a potential valuation floor and remains a source of takeover-related support for Caesars Entertainment (CZR). FTC Requests Additional Information Regarding Fertitta, Caesars Merger
• Neutral Sentiment: The Federal Trade Commission issued a “second request” for additional information about the Fertitta transaction. This extends the regulatory review and could delay closing, but it does not mean the deal has been rejected. Caesars Entertainment Says FTC Issued Second Request Related to Acquisition by Fertitta Entertainment
• Neutral Sentiment: Caesars’ second-quarter results showed revenue of approximately $2.99 billion, slightly above expectations and up 3% year over year, but the company recorded a larger-than-expected loss per share. The mixed operating performance limits fundamental upside while the acquisition remains unresolved. Q2 Earnings Highs And Lows: Caesars Entertainment
• Negative Sentiment: Shareholder-investigation notices from Brodsky & Smith add headline and litigation risk, although the announcement contains no specific finding of wrongdoing. Brodsky & Smith Shareholder Update
• Negative Sentiment: Director David Tomick sold a combined 14,142 shares for roughly $420,000, reducing his holdings materially. Insider selling is not necessarily a signal of deteriorating fundamentals, but it can weigh on sentiment near the stock’s recent highs. David Tomick Sells Shares of Caesars Entertainment Stock

Analysts Set New Price Targets

A number of equities analysts have commented on CZR shares. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Finally, Raymond James Financial lowered Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Hold” and a consensus target price of $30.71.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC raised its stake in Caesars Entertainment by 198.6% in the second quarter. Tidal Investments LLC now owns 292,248 shares of the company’s stock worth $8,820,000 after buying an additional 194,361 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Caesars Entertainment in the 2nd quarter valued at $14,094,000. Engineers Gate Manager LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter valued at $609,000. Maven Securities LTD bought a new position in shares of Caesars Entertainment in the 2nd quarter worth $8,545,000. Finally, Governors Lane LP purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth $2,921,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.