Insider Selling: Caesars Entertainment (NASDAQ:CZR) Director Sells 7,000 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $29.66, for a total value of $207,620.00. Following the completion of the transaction, the director owned 24,911 shares in the company, valued at approximately $738,860.26. The trade was a 21.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Caesars Entertainment Stock Up 0.1%

CZR stock traded up $0.02 during trading on Wednesday, hitting $29.67. 5,144,671 shares of the company’s stock were exchanged, compared to its average volume of 5,538,827. The business has a 50-day moving average price of $29.78 and a two-hundred day moving average price of $28.54. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.01 and a beta of 1.75. Caesars Entertainment, Inc. has a 52-week low of $17.86 and a 52-week high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) EPS 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 company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company earned ($0.39) earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CZR shares. Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Barclays reissued an “equal weight” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Finally, Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Caesars Entertainment currently has a consensus rating of “Hold” and a consensus target price of $30.71.

Institutional Trading of Caesars Entertainment

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Caesars Entertainment in the second quarter valued at about $830,001,000. Pentwater Capital Management LP purchased a new position in shares of Caesars Entertainment during the second quarter worth about $346,014,000. Janus Henderson Group PLC grew its holdings in shares of Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after buying an additional 355,760 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in 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 acquiring an additional 4,937,998 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Caesars Entertainment by 33.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company’s stock valued at $115,233,000 after acquiring an additional 1,085,516 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

About Caesars Entertainment

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.