Insider Selling: Caesars Entertainment (NASDAQ:CZR) Director Sells 7,000 Shares

Key Points

• Caesars Entertainment director David Tomick sold 7,000 shares at an average price of $29.67, generating $207,690 and reducing his ownership by 15.25% to 38,911 shares.
• CZR shares traded near $29.68, close to their 12-month high of $30.88, while the company reported a quarterly EPS loss of $0.30 that missed estimates despite revenue rising 3% year over year to $2.99 billion.
• Institutional investors own 91.79% of Caesars, but Wall Street’s consensus rating is Hold, with a consensus price target of $30.71 based on two Buy, 15 Hold, and two Sell ratings.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) Director David Tomick sold 7,000 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $29.67, for a total transaction of $207,690.00. Following the sale, the director owned 38,911 shares in the company, valued at $1,154,489.37. The trade was a 15.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.01 during trading hours on Monday, reaching $29.68. The company had a trading volume of 3,243,533 shares, compared to its average volume of 5,542,961. 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. The firm has a 50 day simple moving average of $29.81 and a 200-day simple moving average of $28.41. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -13.02 and a beta of 1.75.

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). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same period in the prior year, the firm posted ($0.39) EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently bought and sold shares of CZR. BlackRock Inc. acquired a new position in shares of Caesars Entertainment in the second quarter worth $830,001,000. Pentwater Capital Management LP acquired a new stake in shares of Caesars Entertainment during the second quarter valued at $346,014,000. California State Teachers Retirement System boosted its stake in shares of Caesars Entertainment by 2,852.0% during the second quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company's stock valued at $223,659,000 after acquiring an additional 6,521,369 shares during the last quarter. Janus Henderson Group PLC increased its position in Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock worth $172,582,000 after purchasing an additional 355,760 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock worth $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna raised Caesars Entertainment from a "positive" rating to a "positive" rating in a research note on Friday, May 29th. Raymond James Financial lowered Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. TD Cowen cut Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Wednesday, July 29th. Stifel Nicolaus downgraded 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 Monday, June 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $30.71.

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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