Caesars Entertainment (NASDAQ:CZR) Director Sells $1,470,500.00 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 50,000 shares of Caesars Entertainment stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $29.41, for a total transaction of $1,470,500.00. Following the sale, the director directly owned 41,697 shares in the company, valued at approximately $1,226,308.77. This trade represents a 54.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Caesars Entertainment Price Performance

CZR traded up $0.02 on Wednesday, hitting $29.47. 5,396,275 shares of the company’s stock were exchanged, compared to its average volume of 6,563,017. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The firm has a 50-day moving average price of $27.68 and a 200-day moving average price of $25.01. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -12.43 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data 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 business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted ($0.54) EPS. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock valued at $953,000 after buying an additional 12,698 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Caesars Entertainment by 8.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after buying an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Caesars Entertainment by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after buying an additional 826,356 shares during the last quarter. Woodline Partners LP lifted its position in Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after buying an additional 5,192 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after buying an additional 3,198 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analyst Ratings Changes

CZR has been the topic of several recent research reports. Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Texas Capital lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Barclays dropped their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Hold” and an average target price of $32.80.

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.