Michael Pegram Acquires 2,500 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram purchased 2,500 shares of Caesars Entertainment stock in a transaction on Friday, May 12th. The shares were acquired at an average price of $42.80 per share, for a total transaction of $107,000.00. Following the completion of the transaction, the director directly owned 12,500 shares of the company’s stock, valued at approximately $535,000. The trade was a 25.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Caesars Entertainment Stock Up 0.1%

Shares of NASDAQ CZR opened at $29.51 on Friday. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $31.58. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $27.82 and its two-hundred day simple moving average is $25.13. The stock has a market capitalization of $6.01 billion, a P/E ratio of -12.45 and a beta of 1.77.

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

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZR. AQR Capital Management LLC lifted its stake in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after acquiring an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $496,000 after acquiring an additional 1,623 shares during the period. Goldman Sachs Group Inc. lifted its stake 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 worth $39,982,000 after acquiring an additional 826,356 shares during the period. Woodline Partners LP lifted its stake in Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after acquiring an additional 5,192 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $12,665,000 after acquiring an additional 3,198 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Morgan Stanley raised their target price on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Finally, Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Five equities 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.80.

Key Stories Impacting Caesars Entertainment

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Caesars remains a takeover story after news that Fertitta Entertainment is proposing to buy Caesars Entertainment (CZR) for $31.00 per share in cash, which can support the stock by putting a potential floor under valuation. CZR Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Caesars Entertainment, Inc. to Fertitta Entertainment
• Neutral Sentiment: Director Michael Pegram’s earlier share purchase shows some insider confidence, but it is not enough to offset the broader negative signals. Insider Buying: Caesars Entertainment (NASDAQ:CZR) Director Buys 2,500 Shares of Stock
• Negative Sentiment: Caesars is facing a shareholder-rights investigation from Schall Law Firm over possible breaches of fiduciary duty, adding legal overhang and uncertainty around the deal process. CZR Investors Have the Opportunity to Join Investigation of Caesars Entertainment, Inc. with the Schall Law Firm
• Negative Sentiment: Recent large insider sales by executives and directors, including Edmund Quatmann, Jr. and Michael Pegram, may weigh on sentiment because they can signal reduced confidence at current levels. Caesars Entertainment (NASDAQ:CZR) Insider Edmund Quatmann, Jr. Sells 81,566 Shares
• Negative Sentiment: A separate investor notice about potential securities-law issues adds to the litigation risk surrounding CZR, which could keep investors cautious. Are CZR, RMAX, TBRG, SILA Obtaining Fair Deals for their Shareholders?

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.