Insider Selling: Caesars Entertainment (NASDAQ:CZR) Director Sells $207,690.00 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $29.67, for a total transaction of $207,690.00. Following the completion of the transaction, the director directly owned 38,911 shares of the company’s stock, valued at approximately $1,154,489.37. This represents a 15.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Caesars Entertainment Trading Up 0.0%

NASDAQ CZR traded up $0.01 during mid-day trading on Monday, reaching $29.68. 3,243,533 shares of the stock were exchanged, compared to its average volume of 5,542,961. The stock has a market capitalization of $6.05 billion, a PE ratio of -13.02 and a beta of 1.75. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The business’s fifty day simple moving average is $29.81 and its 200 day simple moving average is $28.41.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $2.98 billion. During the same quarter last year, the firm posted ($0.39) earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CZR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 29th. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Barclays reiterated an “equal weight” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Finally, Capital One Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. 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 stock. According to MarketBeat.com, Caesars Entertainment presently has an average rating of “Hold” and an average price target of $30.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CZR. BlackRock Inc. purchased a new stake in Caesars Entertainment during the second quarter valued at about $830,001,000. Pentwater Capital Management LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter worth about $346,014,000. California State Teachers Retirement System raised its holdings in shares of Caesars Entertainment by 2,852.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company’s stock worth $223,659,000 after purchasing an additional 6,521,369 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth about $76,050,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.