Insider Selling: Caesars Entertainment Co. (CZR) VP Sells $245,385.00 in Stock

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Caesars Entertainment Co. (NASDAQ:CZR) VP Les Ottolenghi sold 28,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $8.61, for a total value of $245,385.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Les Ottolenghi also recently made the following trade(s):

  • On Wednesday, March 6th, Les Ottolenghi sold 17,240 shares of Caesars Entertainment stock. The shares were sold at an average price of $8.74, for a total value of $150,677.60.
  • On Friday, March 8th, Les Ottolenghi sold 51,720 shares of Caesars Entertainment stock. The shares were sold at an average price of $8.59, for a total value of $444,274.80.

Shares of CZR stock opened at $8.08 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.13 and a debt-to-equity ratio of 5.65. Caesars Entertainment Co. has a 12 month low of $5.84 and a 12 month high of $13.54. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -42.53 and a beta of 1.20.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Thursday, February 21st. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). Caesars Entertainment had a negative return on equity of 4.12% and a net margin of 3.61%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business posted $2.48 EPS. Caesars Entertainment’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Caesars Entertainment Co. will post -0.35 EPS for the current year.

A number of brokerages have commented on CZR. BidaskClub downgraded Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Zacks Investment Research downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Deutsche Bank reduced their price objective on Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Bank of America downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $8.75 to $9.00 in a research report on Wednesday, January 16th. Finally, UBS Group upgraded Caesars Entertainment from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $7.00 in a research report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.75.

Several institutional investors have recently bought and sold shares of CZR. Bank of New York Mellon Corp lifted its position in shares of Caesars Entertainment by 113.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,334,380 shares of the company’s stock worth $14,278,000 after buying an additional 709,373 shares during the period. First Trust Advisors LP bought a new position in shares of Caesars Entertainment during the 3rd quarter worth approximately $217,000. State Board of Administration of Florida Retirement System lifted its position in shares of Caesars Entertainment by 32.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 525,246 shares of the company’s stock worth $5,384,000 after buying an additional 129,918 shares during the period. Victory Capital Management Inc. lifted its position in shares of Caesars Entertainment by 35.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,214,178 shares of the company’s stock worth $12,445,000 after buying an additional 316,808 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of Caesars Entertainment during the 3rd quarter worth approximately $416,000.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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