Michael E. Pegram Acquires 15,000 Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZRGet Free Report) Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Caesars Entertainment Stock Up 3.6 %

CZR stock opened at $43.33 on Thursday. Caesars Entertainment, Inc. has a 52 week low of $38.33 and a 52 week high of $60.27. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. The firm has a 50-day simple moving average of $42.51 and a 200-day simple moving average of $44.13. The stock has a market capitalization of $9.37 billion, a P/E ratio of 11.94 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZRGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Caesars Entertainment, Inc. will post 1.11 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several large investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Caesars Entertainment in the 3rd quarter valued at about $32,000. Altshuler Shaham Ltd purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $45,000. Principal Securities Inc. acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $46,000. TFO Wealth Partners LLC boosted its stake in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Caesars Entertainment by 4,708.8% in the 4th quarter. Bessemer Group Inc. now owns 1,635 shares of the company’s stock valued at $68,000 after buying an additional 1,601 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CZR. JPMorgan Chase & Co. reduced their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, January 9th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of Caesars Entertainment in a research note on Wednesday, February 21st. Barclays lowered their price target on shares of Caesars Entertainment from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. StockNews.com cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Finally, Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $58.36.

Read Our Latest Stock Report on CZR

About Caesars Entertainment

(Get Free Report)

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.

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