Insider Selling: Caesars Entertainment (NASDAQ:CZR) CMO Sells $1,768,548.04 in Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) CMO Josh Jones sold 59,507 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Caesars Entertainment Stock Down 0.1%

CZR stock opened at $29.59 on Thursday. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $30.88. The business’s 50 day simple moving average is $29.83 and its 200 day simple moving average is $27.29. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $6.03 billion, a PE ratio of -12.98 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the business earned ($0.39) EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in shares of Caesars Entertainment in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after acquiring an additional 918 shares during the last quarter. Sunbelt Securities Inc. increased its position in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the period. Hantz Financial Services Inc. raised its holdings in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after purchasing an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after purchasing an additional 702 shares during the period. 91.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. reaffirmed 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Raymond James Financial lowered Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.71.

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.