Caesars Entertainment (NASDAQ:CZR) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $28.97 and traded as high as $29.58. Caesars Entertainment shares last traded at $29.47, with a volume of 4,513,918 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CZR shares. Barclays reaffirmed an “equal weight” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, October 2nd. Capital One Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. TD Cowen lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.71.

Caesars Entertainment Price Performance

The company has a market cap of $5.96 billion, a PE ratio of -12.83 and a beta of 1.85. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a 50 day moving average of $29.66 and a 200-day moving average of $28.99.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. Equities analysts predict that Caesars Entertainment, Inc. will post -0.90 earnings per share for the current year.

Insider Transactions at Caesars Entertainment

In related news, CMO Josh Jones sold 59,507 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Janis Jones Blackhurst sold 33,899 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 322,682 shares of company stock worth $9,565,403. 1.18% of the stock is owned by company insiders.

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in CZR. Mather Group LLC. grew its position in Caesars Entertainment by 21,881.2% during the third quarter. Mather Group LLC. now owns 3,517 shares of the company’s stock valued at $104,000 after buying an additional 3,501 shares during the period. Gilpin Wealth Management LLC increased its holdings in Caesars Entertainment by 3,497.0% in the third quarter. Gilpin Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $35,000 after buying an additional 1,154 shares in the last quarter. GAMMA Investing LLC increased its holdings in Caesars Entertainment by 104.9% in the third quarter. GAMMA Investing LLC now owns 17,249 shares of the company’s stock valued at $511,000 after buying an additional 8,832 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Caesars Entertainment by 2,529.6% in the third quarter. Farther Finance Advisors LLC now owns 14,989 shares of the company’s stock worth $444,000 after acquiring an additional 14,419 shares during the period. Finally, CoreCap Advisors LLC raised its position in shares of Caesars Entertainment by 93.0% in the third quarter. CoreCap Advisors LLC now owns 3,086 shares of the company’s stock worth $91,000 after acquiring an additional 1,487 shares during the period. 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.