Insider Selling: Caesars Entertainment (NASDAQ:CZR) Insider Sells 81,566 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) insider Edmund Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the sale, the insider owned 18,263 shares in the company, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded up $0.02 on Wednesday, reaching $29.47. 5,396,275 shares of the company were exchanged, compared to its average volume of 6,563,017. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company’s 50-day moving average is $27.68 and its two-hundred day moving average is $25.01. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -12.43 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.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CZR shares. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Jefferies Financial Group increased their price target on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Citizens Jmp raised their target price on Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Stifel Nicolaus lowered their target price on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Five equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.80.

Institutional Trading of Caesars Entertainment

Several large investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its holdings in Caesars Entertainment by 1.2% during the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock worth $827,000 after purchasing an additional 363 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Caesars Entertainment by 1.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after buying an additional 493 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after buying an additional 510 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after buying an additional 549 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

About Caesars Entertainment

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.