Bret Yunker Sells 208,134 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) CFO Bret Yunker sold 208,134 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Caesars Entertainment Stock Up 0.4%

Shares of NASDAQ CZR opened at $29.76 on Friday. The business has a 50-day moving average of $29.84 and a two-hundred day moving average of $27.37. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -13.05 and a beta of 1.77. Caesars Entertainment, Inc. has a 1 year low of $17.86 and a 1 year high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR) last released 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). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted ($0.39) EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Wells Fargo & Company lifted their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Barclays reissued an “equal weight” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.71.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently added to or reduced their stakes in CZR. Allworth Financial LP acquired a new position in shares of Caesars Entertainment in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after purchasing an additional 672 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after purchasing an additional 846 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after buying an additional 702 shares during the last quarter. 91.79% of the stock is 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.