Caesars Entertainment Co. (CZR) VP Les Ottolenghi Sells 28,500 Shares

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Caesars Entertainment Co. (NASDAQ:CZR) VP Les Ottolenghi sold 28,500 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $8.61, for a total value of $245,385.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Les Ottolenghi also recently made the following trade(s):

  • On Wednesday, March 6th, Les Ottolenghi sold 17,240 shares of Caesars Entertainment stock. The shares were sold at an average price of $8.74, for a total value of $150,677.60.
  • On Friday, March 8th, Les Ottolenghi sold 51,720 shares of Caesars Entertainment stock. The shares were sold at an average price of $8.59, for a total value of $444,274.80.

CZR traded down $0.08 during midday trading on Friday, reaching $8.08. 16,577,450 shares of the company’s stock traded hands, compared to its average volume of 28,438,125. Caesars Entertainment Co. has a 52 week low of $5.84 and a 52 week high of $13.54. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -42.53 and a beta of 1.20. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.13 and a quick ratio of 1.11.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Thursday, February 21st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Caesars Entertainment had a negative return on equity of 4.12% and a net margin of 3.61%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company posted $2.48 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts expect that Caesars Entertainment Co. will post -0.35 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $4,753,000. Geode Capital Management LLC raised its position in shares of Caesars Entertainment by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 5,677,102 shares of the company’s stock worth $38,547,000 after acquiring an additional 188,947 shares in the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $37,693,000. Dimensional Fund Advisors LP raised its position in shares of Caesars Entertainment by 97.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,388,030 shares of the company’s stock worth $9,422,000 after acquiring an additional 685,513 shares in the last quarter. Finally, Oaktree Capital Management LP bought a new position in Caesars Entertainment during the 4th quarter valued at approximately $67,900,000.

A number of research analysts have commented on the company. Deutsche Bank reaffirmed a “buy” rating and set a $11.00 price target on shares of Caesars Entertainment in a research report on Monday, February 25th. Zacks Investment Research raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. UBS Group raised Caesars Entertainment from a “sell” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $7.00 in a research report on Wednesday, January 2nd. BidaskClub lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Finally, Sanford C. Bernstein assumed coverage on Caesars Entertainment in a research report on Thursday, November 15th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $11.75.

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About Caesars Entertainment

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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