Michael Pegram Sells 29,173 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 29,173 shares of Caesars Entertainment stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.28, for a total value of $854,185.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Caesars Entertainment Stock Up 0.1%

Shares of CZR stock traded up $0.02 during mid-day trading on Wednesday, reaching $29.47. 5,396,275 shares of the company 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 debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a market capitalization of $6.00 billion, a P/E ratio of -12.43 and a beta of 1.77. The business’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $25.01.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.54) EPS. Research analysts predict that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CZR. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Morgan Stanley grew its stake in shares of Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Capital World Investors grew its stake in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment in the fourth quarter worth $76,050,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Caesars Entertainment in the fourth quarter worth $65,492,000. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

CZR has been the subject of a number of research reports. Barclays decreased their target price on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Wells Fargo & Company raised their target price on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.