Michael E. Pegram, serving as a director at Caesars Entertainment, Inc. (NASDAQ:CZR), has reported a series of common stock dispositions valued at approximately $3.38 million. The transactions, executed between June 8 and June 10, 2026, encompassed a total of 115,200 shares. The shares were divested at prices ranging from $29.18 to $29.42 per share, levels that align closely with the stock's recent trading price of $29.49. Caesars Entertainment stock has demonstrated notable momentum, recording a 26% gain over the preceding six months and trading near its 52-week high of $31.58. According to InvestingPro analysis, the stock appears fairly valued at current levels.
On June 8, 2026, 15,200 shares were sold by a trust associated with Mr. Pegram at a weighted average price of $29.2001 per share, with prices ranging from $29.18 to $29.23. An additional 13,973 shares were sold on the same day by AMT Investments LLC, also associated with Mr. Pegram, at a weighted average price of $29.3595, with prices ranging from $29.35 to $29.36.
Further sales by AMT Investments LLC included 36,027 shares on June 9, 2026, at a weighted average price of $29.3072, with prices between $29.30 and $29.33, and 50,000 shares on June 10, 2026, at a weighted average price of $29.4092, with prices between $29.40 and $29.42. These dispositions were all indirect holdings. InvestingPro subscribers have access to 6 additional exclusive tips about Caesars Entertainment, plus comprehensive Pro Research Reports covering over 1,400 US stocks.
Prior to these sales, Mr. Pegram, through a trust, acquired 5,200 shares of common stock in May 2023, totaling approximately $221,129. These acquisitions occurred at prices ranging from $42.27 to $42.80 per share. Specifically, 2,500 shares were acquired on May 12, 2023, at $42.80 per share, and 2,700 on May 16, 2023, at $42.27 per share.
CaesarsFollowAnalyze CZRIncluded in our AI-picked strategies·Review strategies29.49▲+0.04(+0.14%)Closed·15:59:59·USD29.50▲+0.03(+0.10%)After Hours·18:50:131D1W6M5YMaxCreated with Highcharts 11.4.814:0015:0016:0017:0018:0019:0029.3529.429.45Analyze CZRMr. Pegram disclaims beneficial ownership of the securities, except to the extent of a pecuniary interest therein. Following these transactions, Mr. Pegram’s indirect holdings through AMT Investments LLC stand at 41,697 shares, and he also holds 4,612 shares directly.
In other recent news, Caesars Entertainment has announced its agreement to be acquired by Fertitta Entertainment for $31.00 per share. This acquisition represents a 49% premium to the company’s share price in February, with an enterprise value of approximately $17.6 billion, including $11.9 billion of assumed debt. Following this announcement, several financial institutions have adjusted their ratings for Caesars Entertainment. Macquarie downgraded the company from Outperform to Neutral, lowering the price target to $31 from $35. Texas Capital Securities also downgraded Caesars from Buy to Hold, reducing the price target from $44 to $31. Similarly, Deutsche Bank adjusted its rating from Buy to Hold, with a revised price target of $31. Raymond James shifted its rating to Market Perform from Outperform, and Susquehanna downgraded Caesars from Positive to Neutral, citing the acquisition’s influence on the rating change. These downgrades reflect the market’s reaction to the acquisition news.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.Should you invest $2,000 in CZR right now?ProPicks AI evaluates CZR alongside thousands of other companies every month using 100+ financial metrics. Using powerful AI to generate exciting stock ideas, it looks beyond popularity to assess fundamentals, momentum, and valuation. The AI has no bias—it simply identifies which stocks offer the best risk-reward based on current data with notable past winners that include Super Micro Computer (+185%) and AppLovin (+157%). Want to know if CZR is currently featured in any ProPicks AI strategies, or if there are better opportunities in the same space?See More Stocks