Caesars Entertainment, Inc. (NASDAQ:CZR) Insider Edmund L. Quatmann, Jr. Sells 22,120 Shares

Caesars Entertainment, Inc. (NASDAQ:CZR) insider Edmund L. Quatmann, Jr. sold 22,120 shares of the stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $100.33, for a total value of $2,219,299.60. Following the sale, the insider now directly owns 32,863 shares of the company’s stock, valued at $3,297,144.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Caesars Entertainment stock traded down $0.22 during mid-day trading on Tuesday, hitting $100.15. 2,923,136 shares of the company’s stock traded hands, compared to its average volume of 3,229,532. The firm has a 50 day simple moving average of $95.39 and a two-hundred day simple moving average of $81.31. Caesars Entertainment, Inc. has a fifty-two week low of $26.66 and a fifty-two week high of $106.85. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of -10.28 and a beta of 3.15. The company has a debt-to-equity ratio of 8.19, a current ratio of 2.55 and a quick ratio of 2.53.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, May 4th. The company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.34). Caesars Entertainment had a negative net margin of 47.29% and a negative return on equity of 56.40%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 259.2% compared to the same quarter last year. On average, research analysts anticipate that Caesars Entertainment, Inc. will post -9.66 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on CZR shares. Truist Securities upped their price target on Caesars Entertainment from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Zacks Investment Research raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th. Macquarie upped their price target on Caesars Entertainment from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 26th. Truist increased their price objective on Caesars Entertainment from $100.00 to $120.00 in a report on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Caesars Entertainment from $65.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 3rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $90.56.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in Caesars Entertainment by 42.4% during the 4th quarter. FMR LLC now owns 26,532,690 shares of the company’s stock worth $1,970,583,000 after buying an additional 7,894,252 shares during the period. Point Break Capital Management LLC increased its position in Caesars Entertainment by 2.5% during the 4th quarter. Point Break Capital Management LLC now owns 8,343,748 shares of the company’s stock worth $619,690,000 after buying an additional 201,755 shares during the period. Janus Henderson Group PLC increased its position in Caesars Entertainment by 33.3% during the 1st quarter. Janus Henderson Group PLC now owns 4,656,892 shares of the company’s stock worth $407,245,000 after buying an additional 1,163,085 shares during the period. Geode Capital Management LLC increased its position in Caesars Entertainment by 40.8% during the 1st quarter. Geode Capital Management LLC now owns 4,417,604 shares of the company’s stock worth $385,791,000 after buying an additional 1,279,033 shares during the period. Finally, Northern Trust Corp increased its position in Caesars Entertainment by 3.6% during the 1st quarter. Northern Trust Corp now owns 2,900,792 shares of the company’s stock worth $253,676,000 after buying an additional 101,115 shares during the period. Hedge funds and other institutional investors own 90.68% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos, including poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also offers staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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