David Tomick Sells 7,000 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $29.67, for a total transaction of $207,690.00. Following the transaction, the director owned 38,911 shares in the company, valued at approximately $1,154,489.37. The trade was a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Caesars Entertainment Stock Down 0.1%

Shares of NASDAQ:CZR opened at $29.65 on Wednesday. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The company has a 50 day moving average of $29.78 and a 200-day moving average of $28.54. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -13.00 and a beta of 1.75.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm earned ($0.39) earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in Caesars Entertainment in the second quarter valued at about $25,000. Parkside Financial Bank & Trust increased its holdings in shares of Caesars Entertainment by 310.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock worth $32,000 after acquiring an additional 811 shares in the last quarter. Hantz Financial Services Inc. raised its position 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. EverSource Wealth Advisors LLC raised its position in shares of Caesars Entertainment by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after purchasing an additional 702 shares during the period. Finally, Ancora Advisors LLC bought a new position in shares of Caesars Entertainment during the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CZR. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. 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 note on Thursday, July 9th. Capital One Financial lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment has an average rating of “Hold” and an average price target of $30.71.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.