Michael Pegram Acquires 2,700 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram acquired 2,700 shares of the stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $42.27 per share, for a total transaction of $114,129.00. Following the completion of the purchase, the director owned 15,200 shares in the company, valued at approximately $642,504. This trade represents a 21.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Caesars Entertainment Price Performance

Shares of CZR stock traded up $0.02 during trading hours on Wednesday, hitting $29.47. The company had a trading volume of 5,396,275 shares, compared to its average volume of 6,563,017. Caesars Entertainment, Inc. has a 12 month low of $17.86 and a 12 month high of $31.58. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -12.43 and a beta of 1.77. The firm’s fifty day moving average is $27.68 and its 200 day moving average is $25.01. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last announced its 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 firm 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 company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.54) EPS. On average, sell-side analysts predict that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Analyst Ratings Changes

CZR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Wells Fargo & Company upped their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.80.

Institutional Trading of Caesars Entertainment

Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after purchasing an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after purchasing an additional 488 shares in the last quarter. Finally, Stance Capital LLC bought a new stake in shares of Caesars Entertainment in the third quarter worth $43,000. Institutional investors own 91.79% of the company’s stock.

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.