Caesars Entertainment (NASDAQ:CZR) Shares Gap Up to $34.94

Caesars Entertainment, Inc. (NASDAQ:CZRGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $34.94, but opened at $35.85. Caesars Entertainment shares last traded at $35.15, with a volume of 1,091,145 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley upped their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Stifel Nicolaus decreased their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, B. Riley initiated coverage on Caesars Entertainment in a research report on Thursday, May 9th. They issued a “buy” rating and a $70.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

Read Our Latest Research Report on CZR

Caesars Entertainment Stock Performance

The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 9.84 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67. The stock has a 50 day moving average price of $39.13 and a two-hundred day moving average price of $42.64.

Caesars Entertainment (NASDAQ:CZRGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.52). The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. On average, analysts predict that Caesars Entertainment, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael E. Pegram bought 40,000 shares of Caesars Entertainment stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the acquisition, the director now owns 181,697 shares in the company, valued at $6,611,953.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Caesars Entertainment news, Director Michael E. Pegram purchased 40,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Pegram purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the transaction, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Caesars Entertainment during the 3rd quarter worth approximately $32,000. Altshuler Shaham Ltd acquired a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $45,000. Principal Securities Inc. bought a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $46,000. Mather Group LLC. bought a new position in shares of Caesars Entertainment during the 1st quarter worth approximately $53,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of Caesars Entertainment by 22,920.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

(Get Free Report)

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.

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