Insider Selling: Caesars Entertainment (NASDAQ:CZR) Insider Sells 81,566 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) insider Edmund Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded up $0.02 during trading on Wednesday, hitting $29.47. The stock had a trading volume of 5,396,275 shares, compared to its average volume of 6,563,017. 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 has a market cap of $6.00 billion, a P/E ratio of -12.43 and a beta of 1.77. The business has a fifty day moving average of $27.68 and a two-hundred day moving average of $25.01. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.54) EPS. On average, sell-side analysts expect that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors grew its holdings in shares of Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after buying an additional 3,716,148 shares in the last quarter. State Street Corp lifted its position in shares of Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after purchasing an additional 3,910,430 shares during the period. Janus Henderson Group PLC boosted 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 purchasing an additional 355,760 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Caesars Entertainment by 246,899,900.0% during the fourth 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 purchasing an additional 4,937,998 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

CZR has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Citizens Jmp lifted their target price on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Citigroup lifted their target price on Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a report on Monday, May 18th. Finally, Susquehanna upgraded Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Hold” and an average target price of $32.80.

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.