Michael E. Pegram Acquires 40,000 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram acquired 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the purchase, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Caesars Entertainment Stock Down 0.4 %

CZR stock opened at $36.22 on Thursday. The company has a market capitalization of $7.84 billion, a P/E ratio of 10.26 and a beta of 2.83. The firm has a 50 day simple moving average of $40.36 and a 200-day simple moving average of $42.96. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. Caesars Entertainment, Inc. has a twelve month low of $35.09 and a twelve month high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. Caesars Entertainment’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) EPS. On average, equities research analysts predict that Caesars Entertainment, Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Vanguard Group Inc. boosted its holdings in shares of Caesars Entertainment by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after buying an additional 148,034 shares during the period. Capital World Investors boosted its stake in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares during the period. HG Vora Capital Management LLC grew its holdings in shares of Caesars Entertainment by 2.0% during the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock valued at $239,088,000 after purchasing an additional 100,000 shares during the last quarter. Invesco Ltd. raised its position in shares of Caesars Entertainment by 8.7% during the 3rd quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after purchasing an additional 293,078 shares during the period. Finally, Norges Bank bought a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $102,213,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CZR shares. JMP Securities dropped their price target on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. TD Cowen cut their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Susquehanna cut their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Finally, Truist Financial decreased their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.83.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.