Caesars Entertainment, Inc. (NASDAQ:CZR) Director Purchases $1,455,600.00 in Stock

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 bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Caesars Entertainment Stock Up 0.8 %

Caesars Entertainment stock traded up $0.30 during mid-day trading on Tuesday, reaching $36.35. The company’s stock had a trading volume of 3,773,488 shares, compared to its average volume of 3,393,958. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. Caesars Entertainment, Inc. has a 12 month low of $35.09 and a 12 month high of $60.27. The business’s 50 day simple moving average is $40.57 and its 200 day simple moving average is $43.04. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 10.21 and a beta of 2.83.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CZR. Stifel Nicolaus decreased their price objective on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Susquehanna reduced their target price on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. TD Cowen lowered their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Truist Financial cut their price objective on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CZR. Assetmark Inc. raised its holdings in shares of Caesars Entertainment by 10.6% in the 3rd quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after purchasing an additional 261 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Caesars Entertainment by 0.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock worth $1,625,000 after acquiring an additional 285 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Caesars Entertainment by 4.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock valued at $354,000 after acquiring an additional 295 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in Caesars Entertainment by 13.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock worth $148,000 after purchasing an additional 376 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Caesars Entertainment by 8.7% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.