Caesars Entertainment (NASDAQ:CZR) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• Caesars Entertainment shares moved above their 200-day moving average, reaching $29.58 and last trading at $29.47, compared with a 200-day average of $28.97.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with a $30.71 average price target; 16 analysts rate it Hold, versus two Buys and one Sell.
• The company continues to face financial pressure, including a quarterly EPS loss of $0.30 that missed estimates, negative net margin and return on equity, while insiders sold 322,682 shares worth about $9.6 million over the past 90 days.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $28.97 and traded as high as $29.58. Caesars Entertainment shares last traded at $29.47, with a volume of 4,513,918 shares traded.

Analyst Ratings Changes

Several research firms have commented on CZR. Zacks Research raised shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, October 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Capital One Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. TD Cowen cut shares of 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 Wednesday, July 29th. Finally, Barclays reiterated an "equal weight" rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.71.

Caesars Entertainment Price Performance

The company has a market cap of $6.01 billion, a PE ratio of -12.93 and a beta of 1.85. The firm's 50-day moving average is $29.68 and its 200-day moving average is $28.97. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the business earned ($0.39) earnings per share. The company's revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.90 EPS for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of Caesars Entertainment stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Tomick sold 7,142 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $29.71, for a total value of $212,188.82. Following the transaction, the director owned 17,769 shares of the company's stock, valued at $527,916.99. The trade was a 28.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 322,682 shares of company stock worth $9,565,403 in the last 90 days. Corporate insiders own 1.18% of the company's stock.

Institutional Trading of Caesars Entertainment

Several institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company's stock worth $827,000 after buying an additional 363 shares during the period. Versant Capital Management Inc lifted its position in shares of Caesars Entertainment by 272.8% during the 3rd quarter. Versant Capital Management Inc now owns 932 shares of the company's stock valued at $28,000 after buying an additional 682 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 valued at $50,000 after buying an additional 702 shares in the last quarter. Parkside Financial Bank & Trust grew its stake 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 valued at $32,000 after acquiring an additional 811 shares during the period. Finally, Allworth Financial LP bought a new position in shares of Caesars Entertainment during the 2nd quarter valued at approximately $25,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company headquartered in Reno, Nevada. The company operates casino resorts and hotels across the United States, offering gaming, accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other resort amenities. Its properties operate under brands including Caesars, Harrah's, Horseshoe, Paris, Flamingo, Planet Hollywood, The LINQ and Eldorado.

In addition to its physical properties, Caesars provides online sports betting and iGaming services through Caesars Sportsbook and related digital platforms, subject to state and regulatory approvals.

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