Blackhurst Janis Jones Sells 33,899 Shares of Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Blackhurst Janis Jones sold 33,899 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.73 on Friday. The business’s fifty day moving average is $29.87 and its two-hundred day moving average is $27.68. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a market cap of $6.06 billion, a P/E ratio of -13.04 and a beta of 1.77. Caesars Entertainment, Inc. has a 52 week low of $17.86 and a 52 week high of $30.88.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business posted ($0.39) earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Caesars Entertainment in the second quarter valued at approximately $830,001,000. Pentwater Capital Management LP bought a new stake in shares of Caesars Entertainment during the 2nd quarter valued at $346,014,000. State Street Corp lifted its stake in shares of Caesars Entertainment by 0.8% in the 2nd quarter. State Street Corp now owns 7,569,822 shares of the company’s stock valued at $214,907,000 after purchasing an additional 61,065 shares during the period. Morgan Stanley lifted its stake in shares of Caesars Entertainment by 121.0% in the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after purchasing an additional 3,910,430 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Caesars Entertainment by 2,852.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company’s stock worth $223,659,000 after purchasing an additional 6,521,369 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 29th. TD Cowen lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 29th. Truist Financial cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Hold” and an average price target of $30.71.

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.