Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram Acquires 40,000 Shares

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram bought 40,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded up $0.30 during midday trading on Tuesday, hitting $36.35. 3,773,488 shares of the company’s stock were exchanged, compared to its average volume of 3,393,958. The stock’s 50 day moving average price is $40.57 and its 200-day moving average price is $43.04. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67. The firm has a market cap of $7.87 billion, a P/E ratio of 10.21 and a beta of 2.83. Caesars Entertainment, Inc. has a twelve month low of $35.09 and a twelve month high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. Caesars Entertainment’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. Equities research analysts anticipate that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CZR. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, January 9th. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Susquehanna decreased their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at $102,213,000. AQR Capital Management LLC boosted its position in Caesars Entertainment by 938.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after acquiring an additional 942,621 shares during the period. Capital World Investors grew its stake in Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Caesars Entertainment by 481.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after purchasing an additional 751,938 shares during the period. Finally, Blackstone Inc. purchased a new stake in shares of Caesars Entertainment in the third quarter worth approximately $34,762,000. 91.79% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.