Insider Selling: Caesars Entertainment (NASDAQ:CZR) Director Sells $1,004,427.37 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Blackhurst Janis Jones sold 33,899 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Caesars Entertainment Price Performance

CZR opened at $29.73 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The firm’s fifty day moving average is $29.87 and its 200 day moving average is $27.73. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -13.04 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.39) EPS. On average, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Caesars Entertainment during the 2nd quarter valued at about $830,001,000. Pentwater Capital Management LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter valued at $346,014,000. California State Teachers Retirement System raised its position in shares of Caesars Entertainment by 2,852.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company’s stock worth $223,659,000 after acquiring an additional 6,521,369 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of 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 worth $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Caesars Entertainment by 121.0% during the 4th 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 last quarter. Institutional investors own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a report on Thursday, August 13th. Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Stifel Nicolaus downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Finally, Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.71.

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.