Michael Pegram Sells 55,000 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Caesars Entertainment Price Performance

CZR opened at $29.26 on Friday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -12.35 and a beta of 1.77. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The stock has a fifty day moving average price of $27.51 and a 200 day moving average price of $24.82.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion for 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.54) EPS. Analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cyrus Capital Partners L.P. acquired a new stake in shares of Caesars Entertainment in the first quarter worth about $37,795,000. Edgestream Partners L.P. acquired a new stake in shares of Caesars Entertainment in the first quarter worth about $2,225,000. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 5.8% in the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after buying an additional 355,760 shares during the last quarter. Amundi lifted its position in shares of Caesars Entertainment by 205.1% in the first quarter. Amundi now owns 1,587,634 shares of the company’s stock worth $41,961,000 after buying an additional 1,067,259 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after buying an additional 702 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Stifel Nicolaus reduced their price objective on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.80.

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.