Insider Buying: Caesars Entertainment, Inc. (NASDAQ:CZR) Director Purchases $1,455,600.00 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram purchased 40,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the transaction, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Caesars Entertainment Trading Up 3.0 %

Shares of NASDAQ CZR opened at $37.30 on Friday. The firm’s 50 day moving average price is $40.23 and its 200-day moving average price is $42.92. Caesars Entertainment, Inc. has a 52-week low of $35.09 and a 52-week high of $60.27. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The company has a market cap of $8.07 billion, a PE ratio of 10.57 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted ($0.11) earnings per share. On average, equities research analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current fiscal year.

Analyst Ratings Changes

CZR has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays decreased their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Wells Fargo & Company decreased their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, B. Riley initiated coverage on shares of Caesars Entertainment in a research report on Thursday. They set a “buy” rating and a $70.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Caesars Entertainment by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after purchasing an additional 148,034 shares during the period. Capital World Investors grew its holdings in shares of Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. HG Vora Capital Management LLC increased its position in Caesars Entertainment by 2.0% during the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock valued at $239,088,000 after acquiring an additional 100,000 shares during the last quarter. Invesco Ltd. increased its position in Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after acquiring an additional 293,078 shares during the last quarter. Finally, Norges Bank bought a new position in Caesars Entertainment in the fourth quarter valued at about $102,213,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.