Caesars Entertainment (NASDAQ:CZR) Director David Tomick Sells 7,142 Shares of Stock

Caesars Entertainment, Inc. (NASDAQ:CZR) Director David Tomick sold 7,142 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $29.71, for a total value of $212,188.82. Following the completion of the transaction, the director directly owned 17,769 shares of the company’s stock, valued at $527,916.99. The trade was a 28.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Caesars Entertainment Price Performance

Caesars Entertainment stock traded up $0.02 during mid-day trading on Wednesday, hitting $29.67. 5,144,671 shares of the company were exchanged, compared to its average volume of 5,538,827. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a market capitalization of $6.05 billion, a P/E ratio of -13.01 and a beta of 1.75. The business’s 50 day simple moving average is $29.78 and its two-hundred day simple moving average is $28.54. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

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

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Holding SA lifted 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 buying an additional 363 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after acquiring an additional 702 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Caesars Entertainment by 310.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after acquiring an additional 811 shares during the period. Allworth Financial LP acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $25,000. Finally, Hantz Financial Services Inc. lifted 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 valued at $42,000 after purchasing an additional 846 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CZR shares. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Wells Fargo & Company upped their target price on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Texas Capital lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Barclays reiterated an “equal weight” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Finally, Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Two equities 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.71.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.