Insider Buying: Pegram Michael E, Caesars Entertainment Inc. [CZR] Director invested 25,000 shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Caesars Entertainment Inc. shares valued at $1,118,572 were purchased by Pegram Michael E on Nov 04. At $44.74 per share, Pegram Michael E acquired 25,000 shares. The insider’s holdings grew to 96,697 shares worth approximately $5.16 million following the completion of this transaction.

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Also, TOMICK DAVID P purchased 1,100 shares, netting a total of over 42,229 in proceeds. Following the buying of shares at $38.39 each, the insider now holds 5,800 shares.

Before that, KORNSTEIN DON R had added 2,500 shares to its account. In a trade valued at $95,250, the Director bought Caesars Entertainment Inc. shares for $38.10 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $1.83 million.

As published in a research note from Stifel on January 24, 2023, Caesars Entertainment Inc. [CZR] has been retained to a Buy and the price target has been revised to $68. This represents a 21.54% premium over Wednesday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of November 21, 2022, Morgan Stanley has initiated its “an Equal-weight” rating for CZR. Earlier on July 20, 2022, Susquehanna initiated its rating. Their recommendation was “a Neutral” for CZR stock.

Analyzing CZR Stock Performance

On Wednesday, Caesars Entertainment Inc. [NASDAQ: CZR] rose 1.27% to $53.35. The stock’s lowest price that day was $52.08, but it reached a high of $53.38 in the same session. During the last five days, there has been a surge of approximately 4.00%. Over the course of the year, Caesars Entertainment Inc. shares have jumped approximately 28.25%. Shares of the company reached a 52-week high of $56.75 on 02/03/23 and a 52-week low of $41.41 on 01/03/23. A 50-day SMA is recorded $49.66, while a 200-day SMA reached $45.68. Nevertheless, trading volume fell to 1.96 million shares from 4.17 million shares the previous day.

Support And Resistance Levels for Caesars Entertainment Inc. (CZR)

According to the 24-hour chart, there is a support level at 52.49, which, if violated, would cause prices to drop to 51.64. In the upper region, resistance lies at 53.79. The next price resistance is at 54.24. RSI (Relative Strength Index) is 54.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 34.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Caesars Entertainment Inc. subject to short interest?

Stocks of Caesars Entertainment Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -3.23 million shares to 8.24 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 11.47 million shares. A decline of -39.2% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.88 of the overall float, the days-to-cover ratio (short ratio) decline to 2.88.

Which companies own the most shares of Caesars Entertainment Inc. (CZR)?

According to The Vanguard Group, Inc. filings, the company currently owns 21,937,640 shares, which is about 10.22% of the total CZR shares outstanding. The investor’s shares have appreciated by 463,874 from its previous 13-F filing of 21473766.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,088,092,681. Fidelity Management & Research Co acquire a 9.40% interest valued at $948.02 million while Janus Henderson Investors US LLC sold a -701,488 stake. A total of -496,558 shares of Caesars Entertainment Inc. were sold by Capital Research & Management Co during the quarter, and 408,924 were bought by BlackRock Fund Advisors. In its current portfolio, SSgA Funds Management, Inc. holds 7,583,507 shares valued at $394.8 million.

In terms of Caesars Entertainment Inc. share price expectations, FactSet research, analysts set an average price target of $73.00 in the next 12 months, up nearly 32.88% from the previous closing price of $52.68. Analysts anticipate Caesars Entertainment Inc. stock to reach $111.00 by 2023, with the lowest price target being $55.00. In spite of this, 15 analysts ranked Caesars Entertainment Inc. stock as an Overweight at the end of 2023.


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