Caesars Entertainment (NASDAQ:CZR) Director Sells $1,606,000.00 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 55,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Caesars Entertainment Trading Down 0.2%

Caesars Entertainment stock opened at $29.20 on Friday. The stock has a 50-day moving average of $27.56 and a two-hundred day moving average of $24.85. 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 one year low of $17.86 and a one year high of $31.58. The stock has a market cap of $5.95 billion, a PE ratio of -12.32 and a beta of 1.77.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Macquarie Infrastructure cut Caesars Entertainment from an “outperform” rating to a “neutral” rating in a research note on Monday, June 1st. Citigroup raised 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. Morgan Stanley raised their price objective 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. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Finally, Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.80.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA grew its holdings in Caesars Entertainment by 1.2% during the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock worth $827,000 after acquiring an additional 363 shares during the period. CoreCap Advisors LLC grew its holdings in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after acquiring an additional 493 shares during the period. Hantz Financial Services Inc. grew its holdings in Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after acquiring an additional 510 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after acquiring an additional 549 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

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.