Insider Buying: Caesars Entertainment (NASDAQ:CZR) Director Purchases 2,500 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram acquired 2,500 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $42.80 per share, with a total value of $107,000.00. Following the completion of the acquisition, the director owned 12,500 shares in the company, valued at approximately $535,000. The trade was a 25.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Caesars Entertainment Trading Up 0.1%

Shares of CZR stock traded up $0.02 on Wednesday, reaching $29.47. 5,396,275 shares of the stock were exchanged, compared to its average volume of 6,563,017. The stock has a market cap of $6.00 billion, a P/E ratio of -12.43 and a beta of 1.77. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The firm has a 50 day moving average of $27.68 and a two-hundred day moving average of $25.01. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) 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 return on equity of 7.88% and a negative net margin of 4.19%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.54) earnings per share. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Morgan Stanley raised their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.80.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently modified their holdings of the business. Cyrus Capital Partners L.P. purchased a new stake in shares of Caesars Entertainment in the first quarter valued at $37,795,000. Edgestream Partners L.P. purchased a new stake in shares of Caesars Entertainment in the first quarter valued at $2,225,000. Janus Henderson Group PLC lifted its holdings 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 valued at $172,582,000 after purchasing an additional 355,760 shares in the last quarter. Amundi lifted its holdings in shares of Caesars Entertainment by 205.1% in the first quarter. Amundi now owns 1,587,634 shares of the company’s stock valued at $41,961,000 after purchasing an additional 1,067,259 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 valued at $50,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.