Edmund Quatmann, Jr. Sells 81,566 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) insider Edmund Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider owned 18,263 shares in the company, valued at $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 accessible through this link.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $29.51 on Friday. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $31.58. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -12.45 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The firm has a 50 day moving average of $27.82 and a 200 day moving average of $25.13.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results 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). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business posted ($0.54) earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its position 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 during the last quarter. State Street Corp boosted its position in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after acquiring an additional 61,065 shares during the last quarter. Morgan Stanley grew its stake in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares in the last quarter. Janus Henderson Group PLC grew its stake in Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after acquiring an additional 355,760 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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. Institutional investors own 91.79% of the company’s stock.

More Caesars Entertainment News

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?

Analyst Ratings Changes

CZR has been the subject of several recent research reports. Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a 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 research report on Monday, June 1st. Barclays cut their price objective on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Raymond James Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Finally, Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Five equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.80.

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.