Michael Pegram Acquires 2,700 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram purchased 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average cost of $42.27 per share, for a total transaction of $114,129.00. Following the purchase, the director owned 15,200 shares in the company, valued at $642,504. This represents a 21.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $29.51 on Friday. The stock’s fifty day simple moving average is $27.82 and its 200 day simple moving average is $25.13. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -12.45 and a beta of 1.77. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. Caesars Entertainment’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.54) EPS. On average, analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CZR. Citigroup lifted their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Jefferies Financial Group lifted their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, April 6th. Finally, Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.80.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in CZR. Hantz Financial Services Inc. raised its position in shares of 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 last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after acquiring an additional 918 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of 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 last quarter. Finally, Stance Capital LLC bought a new stake in shares of Caesars Entertainment during the third quarter worth $43,000. Institutional investors own 91.79% of the company’s stock.

Key Stories Impacting Caesars Entertainment

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

• Positive Sentiment: Caesars remains a takeover story after news that Fertitta Entertainment is proposing to buy Caesars Entertainment (CZR) for $31.00 per share in cash, which can support the stock by putting a potential floor under valuation. CZR Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Caesars Entertainment, Inc. to Fertitta Entertainment
• Neutral Sentiment: Director Michael Pegram’s earlier share purchase shows some insider confidence, but it is not enough to offset the broader negative signals. Insider Buying: Caesars Entertainment (NASDAQ:CZR) Director Buys 2,500 Shares of Stock
• Negative Sentiment: Caesars is facing a shareholder-rights investigation from Schall Law Firm over possible breaches of fiduciary duty, adding legal overhang and uncertainty around the deal process. CZR Investors Have the Opportunity to Join Investigation of Caesars Entertainment, Inc. with the Schall Law Firm
• Negative Sentiment: Recent large insider sales by executives and directors, including Edmund Quatmann, Jr. and Michael Pegram, may weigh on sentiment because they can signal reduced confidence at current levels. Caesars Entertainment (NASDAQ:CZR) Insider Edmund Quatmann, Jr. Sells 81,566 Shares
• Negative Sentiment: A separate investor notice about potential securities-law issues adds to the litigation risk surrounding CZR, which could keep investors cautious. Are CZR, RMAX, TBRG, SILA Obtaining Fair Deals for their Shareholders?

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.