In a recent transaction, Frank J. Fahrenkopf Jr., a director at Caesars (NASDAQ:CZR) Entertainment, Inc. (NASDAQ:CZR), sold 10,000 shares of the company's common stock. The sale was completed at a weighted average price of $32.52 per share, resulting in a total value of $325,207.
Investors tracking insider activities may note that the shares were sold in multiple transactions at prices that ranged from $32.31 to $32.83. Following this sale, Fahrenkopf's direct ownership in the company stands at 350 shares.
The transactions took place on May 31, 2024, and were disclosed through a Form 4 filing with the Securities and Exchange Commission. Caesars Entertainment, headquartered in Reno, Nevada, operates within the hotels and motels industry and is known for its gaming and hospitality services.
This recent insider transaction provides stakeholders with updated information on the financial moves of the company's directors, which can be a valuable indicator of their confidence in the firm's prospects.
InvestingPro Insights
Amidst the news of insider activity at Caesars Entertainment, Inc. (NASDAQ:CZR), investors may seek additional context to gauge the company's financial health and future prospects. Here are some key metrics and insights from InvestingPro that could help in forming a more complete picture:
The market capitalization of Caesars Entertainment stands at $7.7 billion, reflecting the company's size and market value. With a trailing P/E ratio of 9.02, Caesars appears to be priced attractively compared to earnings over the last twelve months as of Q1 2024. Additionally, the company's PEG ratio during the same period is notably low at 0.03, suggesting potential for growth relative to earnings expectations.
While the company's revenue showed a slight uptick of 0.71% over the last twelve months as of Q1 2024, the quarterly revenue growth experienced a decline of -3.11%. This mixed performance in revenue could be a point of consideration for investors looking at the company's growth trajectory.
InvestingPro Tips for Caesars Entertainment highlight that analysts have revised their earnings downwards for the upcoming period and expect net income to drop this year. However, it's worth noting that the company has been profitable over the last twelve months and analysts predict it will be profitable this year as well. Moreover, Caesars Entertainment has achieved a high return over the last decade, but it does not pay a dividend to shareholders, which could influence investment decisions based on individual income strategies.
For those interested in a deeper analysis, InvestingPro offers additional tips and insights. There are currently 7 more InvestingPro Tips available for Caesars Entertainment, which can be accessed at https://www.investing.com/pro/CZR. Investors can also benefit from an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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