Insider Buying: Caesars Entertainment (NASDAQ:CZR) Director Buys 1,000 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Bonnie Biumi acquired 1,000 shares of Caesars Entertainment stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $18.69 per share, for a total transaction of $18,690.00. Following the purchase, the director owned 32,780 shares in the company, valued at approximately $612,658.20. The trade was a 3.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Caesars Entertainment Price Performance

NASDAQ:CZR traded up $0.35 during trading hours on Monday, reaching $20.45. The stock had a trading volume of 11,413,962 shares, compared to its average volume of 6,341,439. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. Caesars Entertainment, Inc. has a 52 week low of $18.25 and a 52 week high of $41.76. The company has a 50 day moving average price of $24.63 and a two-hundred day moving average price of $26.63. The stock has a market capitalization of $4.17 billion, a PE ratio of -17.78 and a beta of 2.32.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned ($0.04) EPS. The business’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CZR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. Truist Financial decreased their price target on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Stifel Nicolaus decreased their price target on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group decreased their price target on Caesars Entertainment from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.06.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Caesars Entertainment by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company’s stock valued at $588,721,000 after acquiring an additional 183,963 shares during the last quarter. State Street Corp grew its position in Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after acquiring an additional 61,065 shares during the last quarter. Invesco Ltd. grew its position in Caesars Entertainment by 22.9% in the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company’s stock valued at $170,582,000 after acquiring an additional 1,269,911 shares during the last quarter. DAVENPORT & Co LLC grew its position in Caesars Entertainment by 3.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 4,320,758 shares of the company’s stock valued at $116,768,000 after acquiring an additional 123,865 shares during the last quarter. Finally, HG Vora Capital Management LLC grew its position in Caesars Entertainment by 73.3% in the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after acquiring an additional 1,650,000 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

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.