Caesars Entertainment (NASDAQ:CZR) Director Sells $212,188.82 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,142 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 17,769 shares of the company’s stock, valued at approximately $527,916.99. This represents a 28.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded up $0.02 during mid-day trading on Wednesday, hitting $29.67. 5,144,671 shares of the stock were exchanged, compared to its average volume of 5,538,827. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.01 and a beta of 1.75. The firm’s 50-day simple moving average is $29.78 and its 200 day simple moving average is $28.54. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88.

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

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in Caesars Entertainment by 198.6% during the 2nd quarter. Tidal Investments LLC now owns 292,248 shares of the company’s stock worth $8,820,000 after purchasing an additional 194,361 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Caesars Entertainment during the second quarter worth $14,094,000. Engineers Gate Manager LP bought a new position in shares of Caesars Entertainment in the 2nd quarter valued at $609,000. Maven Securities LTD acquired a new stake in shares of Caesars Entertainment during the 2nd quarter valued at $8,545,000. Finally, Governors Lane LP bought a new stake in Caesars Entertainment during the 2nd quarter worth $2,921,000. 91.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on CZR shares. Texas Capital downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Barclays reissued 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 lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Monday, June 15th. Finally, Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.71.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.