Caesars Entertainment (NASDAQ:CZR) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $28.81 and traded as high as $29.67. Caesars Entertainment shares last traded at $29.65, with a volume of 2,559,034 shares trading hands.

Analyst Ratings Changes

CZR has been the topic of several analyst reports. TD Cowen lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Wednesday, July 29th. Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Barclays reiterated an “equal weight” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Stifel Nicolaus cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Monday, June 15th. Finally, Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.71.

Caesars Entertainment Trading Up 0.0%

The company has a market cap of $6.04 billion, a PE ratio of -12.99 and a beta of 1.85. The company’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $28.82. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

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

Insider Transactions at Caesars Entertainment

In other news, Director David Tomick sold 7,142 shares of Caesars Entertainment stock in a transaction 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 completion of the sale, the director directly owned 17,769 shares of the company’s stock, valued at approximately $527,916.99. The trade was a 28.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 322,682 shares of company stock valued at $9,565,403. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CZR. Pictet Asset Management Holding SA lifted its stake 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 purchasing an additional 363 shares during the last quarter. Versant Capital Management Inc increased its stake in Caesars Entertainment by 272.8% during the third quarter. Versant Capital Management Inc now owns 932 shares of the company’s stock valued at $28,000 after purchasing an additional 682 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Caesars Entertainment by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after purchasing an additional 702 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Caesars Entertainment by 310.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock worth $32,000 after buying an additional 811 shares during the last quarter. Finally, Allworth Financial LP bought a new position in shares of Caesars Entertainment in the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company headquartered in Reno, Nevada. The company operates casino resorts and hotels across the United States, offering gaming, accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other resort amenities. Its properties operate under brands including Caesars, Harrah’s, Horseshoe, Paris, Flamingo, Planet Hollywood, The LINQ and Eldorado.

In addition to its physical properties, Caesars provides online sports betting and iGaming services through Caesars Sportsbook and related digital platforms, subject to state and regulatory approvals.