Key Points
- Director David Tomick sold 7,000 Caesars Entertainment shares at an average price of $29.66, generating $207,620 and reducing his position by 21.94% to 24,911 shares.
- Caesars shares opened at $29.67, near their 52-week high of $30.88. The company reported quarterly revenue of $2.99 billion but missed earnings expectations, posting an EPS loss of $0.30.
- Analysts largely maintain a “Hold” consensus, with 15 Hold, two Buy and two Sell ratings and an average price target of $30.71; institutional investors own 91.79% of the stock.
Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) Director David Tomick sold 7,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $29.66, for a total value of $207,620.00. Following the completion of the transaction, the director directly owned 24,911 shares of the company's stock, valued at approximately $738,860.26. The trade was a 21.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Caesars Entertainment Price Performance
Shares of NASDAQ CZR opened at $29.67 on Thursday. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The firm's 50-day simple moving average is $29.78 and its 200 day simple moving average is $28.57. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. The stock has a market cap of $6.05 billion, a P/E ratio of -13.01 and a beta of 1.75.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Equities analysts expect that Caesars Entertainment, Inc. will post -0.9 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on CZR shares. TD Cowen cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Wednesday, July 29th. Stifel Nicolaus cut Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a report on Monday, June 15th. Capital One Financial downgraded Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Finally, Truist Financial cut Caesars Entertainment from a "buy" rating to a "hold" rating and lowered their price target for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Hold" and an average price target of $30.71.
Check Out Our Latest Stock Analysis on CZR
Hedge Funds Weigh In On Caesars Entertainment
A number of hedge funds and other institutional investors have recently modified their holdings of CZR. BlackRock Inc. acquired a new position in Caesars Entertainment in the 2nd quarter worth approximately $830,001,000. Pentwater Capital Management LP acquired a new stake in Caesars Entertainment during the second quarter valued at $346,014,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock valued at $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Norges Bank acquired a new position in Caesars Entertainment in the 4th quarter worth about $76,050,000. Finally, Bank of America Corp DE purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $96,169,000. Institutional investors and hedge funds own 91.79% of the company's stock.
About Caesars Entertainment
(
Get Free Report)
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.
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