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 the stock in a transaction dated Friday, May 12th. The shares were bought at an average price of $42.80 per share, for a total transaction of $107,000.00. Following the completion of the acquisition, the director owned 12,500 shares in the company, valued at $535,000. This represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Caesars Entertainment Stock Up 0.1%

Shares of Caesars Entertainment stock traded up $0.02 on Wednesday, hitting $29.47. 5,396,275 shares of the company traded hands, compared to its average volume of 6,563,017. The company has a 50-day moving average price of $27.68 and a 200 day moving average price of $25.01. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58. The company has a market cap of $6.00 billion, a PE ratio of -12.43 and a beta of 1.77.

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

Analyst Ratings Changes

A number of analysts have issued reports on CZR shares. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Barclays reduced their target price on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Raymond James Financial lowered shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Finally, Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Hold” and a consensus target price of $32.80.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of CZR. Cyrus Capital Partners L.P. acquired a new position in Caesars Entertainment during the 1st quarter valued at $37,795,000. Edgestream Partners L.P. acquired a new stake in Caesars Entertainment in the 1st quarter worth $2,225,000. Janus Henderson Group PLC grew its position in Caesars Entertainment by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after purchasing an additional 355,760 shares during the last quarter. Amundi increased its holdings in shares of Caesars Entertainment by 205.1% during the 1st quarter. Amundi now owns 1,587,634 shares of the company’s stock worth $41,961,000 after purchasing an additional 1,067,259 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after purchasing an additional 702 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.