Insider Selling: Caesars Entertainment (NASDAQ:CZR) CFO Sells $6,164,929.08 in Stock

Key Points

• Caesars CFO Bret Yunker sold 208,134 shares at an average price of $29.62, generating proceeds of approximately $6.16 million in an SEC-reported transaction.
• Caesars shares recently traded near $29.76, close to their 12-month high of $30.88, while the company maintains high leverage with a debt-to-equity ratio of 3.70.
• The company reported a quarterly loss of $0.30 per share, missing estimates, and analysts hold a broadly cautious outlook: the consensus rating is “Hold” with a $30.71 target price.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) CFO Bret Yunker sold 208,134 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Caesars Entertainment Stock Performance

Shares of CZR stock traded up $0.12 during trading hours on Friday, reaching $29.76. 1,355,308 shares of the company traded hands, compared to its average volume of 5,822,965. The firm has a 50-day moving average price of $29.83 and a 200 day moving average price of $27.35. The company has a market cap of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.77. Caesars Entertainment, Inc. has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Caesars Entertainment in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its holdings in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after buying an additional 918 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after acquiring an additional 672 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock worth $42,000 after acquiring an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after acquiring an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Texas Capital cut Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Capital One Financial downgraded Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Zacks Research cut Caesars Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Stifel Nicolaus lowered 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 analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment Company Profile

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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