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

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram purchased 40,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $36.35 on Wednesday. The firm’s 50 day simple moving average is $40.46 and its 200-day simple moving average is $43.01. The company has a market cap of $7.87 billion, a P/E ratio of 10.30 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67. Caesars Entertainment, Inc. has a fifty-two week low of $35.09 and a fifty-two week 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned ($0.11) earnings per share. As a group, equities research analysts predict that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Caesars Entertainment by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after purchasing an additional 148,034 shares in the last quarter. Capital World Investors grew its position in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares in the last quarter. HG Vora Capital Management LLC grew its position in 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 in the last quarter. Invesco Ltd. grew its position in Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after purchasing an additional 293,078 shares in the last quarter. Finally, Norges Bank purchased a new position in Caesars Entertainment during the fourth quarter valued at approximately $102,213,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CZR shares. Barclays dropped their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. JMP Securities dropped their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Truist Financial dropped their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Finally, TD Cowen dropped their target price 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. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price 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.