Caesars Entertainment (NASDAQ:CZR) Director David Tomick Sells 7,000 Shares

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 traded near $29.67, with the stock up from its 12-month low of $17.86 but below its high of $30.88. The company reported a quarterly EPS loss of $0.30, missing estimates, while revenue rose 3% year over year to $2.99 billion.
• Analysts maintain a consensus “Hold” rating, with a $30.71 average price target; institutional investors and hedge funds own approximately 91.79% of the company.

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 shares were sold at an average price of $29.66, for a total value of $207,620.00. Following the sale, the director owned 24,911 shares of the company's stock, valued at approximately $738,860.26. This represents a 21.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded up $0.02 during trading on Wednesday, reaching $29.67. 5,144,671 shares of the company traded hands, compared to its average volume of 5,538,827. The stock has a market cap of $6.05 billion, a P/E ratio of -13.01 and a beta of 1.75. The firm's fifty day simple moving average is $29.78 and its 200 day simple moving average is $28.54. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on CZR shares. Stifel Nicolaus lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Monday, June 15th. Capital One Financial cut shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Susquehanna upgraded shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Finally, Truist Financial cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and decreased their price target for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of "Hold" and a consensus target price of $30.71.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently bought and sold shares of the stock. Pictet Asset Management Holding SA grew its holdings in Caesars Entertainment by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company's stock worth $827,000 after acquiring an additional 363 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock valued at $50,000 after purchasing an additional 702 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Caesars Entertainment by 310.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company's stock worth $32,000 after purchasing an additional 811 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth $25,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock worth $42,000 after purchasing an additional 846 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

About Caesars Entertainment

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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