Michael Pegram Sells 29,173 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram sold 29,173 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.28, for a total transaction of $854,185.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Caesars Entertainment Trading Up 0.1%

CZR stock opened at $29.51 on Friday. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $31.58. The company has a market capitalization of $6.01 billion, a PE ratio of -12.45 and a beta of 1.77. The company’s 50-day simple moving average is $27.82 and its 200 day simple moving average is $25.13. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last issued 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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.Caesars Entertainment’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.54) EPS. As a group, sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CZR shares. Citigroup boosted their price target on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Wells Fargo & Company lifted their price objective on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group raised their price target on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, 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?

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its holdings in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying an additional 918 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the last quarter. Finally, Stance Capital LLC acquired a new stake in Caesars Entertainment in the third quarter valued at about $43,000. 91.79% of the stock is currently owned by institutional investors.

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.