Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram Purchases 40,000 Shares

Caesars Entertainment, Inc. (NASDAQ:CZR) Director Michael E. Pegram bought 40,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $36.39 per share, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $37.30 on Friday. Caesars Entertainment, Inc. has a 1-year low of $35.09 and a 1-year high of $60.27. The firm has a 50 day simple moving average of $40.23 and a 200-day simple moving average of $42.92. The firm has a market cap of $8.07 billion, a PE ratio of 10.57 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.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned ($0.11) EPS. Caesars Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CZR. B. Riley initiated coverage on shares of Caesars Entertainment in a research report on Thursday. They set a “buy” rating and a $70.00 price target for the company. Susquehanna reduced their price objective on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. JMP Securities lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. TD Cowen cut their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial dropped their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Caesars Entertainment during the third quarter worth approximately $32,000. Altshuler Shaham Ltd purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at $45,000. Principal Securities Inc. acquired a new stake in shares of Caesars Entertainment during the 4th quarter worth $46,000. Mather Group LLC. acquired a new position in Caesars Entertainment in the first quarter valued at $53,000. Finally, TFO Wealth Partners LLC grew its position in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock valued at $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

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.