Michael Pegram Acquires 2,700 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael Pegram purchased 2,700 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $114,129.00. Following the completion of the transaction, the director directly owned 15,200 shares of the company’s stock, valued at approximately $642,504. This represents a 21.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Caesars Entertainment Stock Performance

NASDAQ CZR traded up $0.02 on Wednesday, hitting $29.47. 5,396,275 shares of the stock were exchanged, compared to its average volume of 6,563,017. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The business’s fifty day moving average is $27.68 and its 200 day moving average is $25.01. 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 $6.00 billion, a PE ratio of -12.43 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) 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 firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company posted ($0.54) earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Research analysts anticipate that Caesars Entertainment, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its position in shares of Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after purchasing an additional 363 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after acquiring an additional 488 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Caesars Entertainment by 1.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after acquiring an additional 493 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after acquiring an additional 510 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after acquiring an additional 549 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CZR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a report on Monday, May 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Friday, May 29th. Stifel Nicolaus cut their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.80.

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.