Caesars Entertainment (NASDAQ:CZR) CMO Josh Jones Sells 59,507 Shares of Stock

Key Points

• Caesars CMO Josh Jones sold 59,507 shares on August 14 at an average price of $29.72, generating approximately $1.77 million in proceeds.
• Caesars shares recently traded near $29.66, close to their 52-week high of $30.88. The company reported quarterly revenue of $2.99 billion, up 3% year over year, but missed earnings expectations with a loss of $0.30 per share.
• Analyst sentiment is mostly neutral, with a consensus “Hold” rating and an average price target of $30.71; institutional investors own approximately 91.79% of the stock.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) CMO Josh Jones sold 59,507 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $29.72, for a total transaction of $1,768,548.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Caesars Entertainment Stock Down 0.3%

Shares of CZR traded down $0.09 on Monday, hitting $29.66. 2,079,885 shares of the stock traded hands, compared to its average volume of 5,921,192. Caesars Entertainment, Inc. has a one year low of $17.86 and a one year high of $30.88. The company has a market capitalization of $6.04 billion, a PE ratio of -13.01 and a beta of 1.77. The business has a 50 day simple moving average of $29.82 and a 200 day simple moving average of $27.11. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.35). Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company posted ($0.39) earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CZR. Raymond James Financial cut Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 29th. Citizens Jmp upped their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 29th. Capital One Financial downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. TD Cowen lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus 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 Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.71.

Institutional Trading of Caesars Entertainment

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Caesars Entertainment in the 2nd quarter worth $830,001,000. Pentwater Capital Management LP purchased a new stake in Caesars Entertainment in the second quarter worth about $346,014,000. State Street Corp raised its stake in shares of Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after buying an additional 61,065 shares during the period. Morgan Stanley raised its stake in Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock worth $167,049,000 after acquiring an additional 3,910,430 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock valued at $172,582,000 after purchasing an additional 355,760 shares during the period. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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