{"id":312969,"date":"2024-03-04T15:04:58","date_gmt":"2024-03-04T21:04:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=312969"},"modified":"2024-03-05T12:31:34","modified_gmt":"2024-03-05T18:31:34","slug":"caesars-insiders-see-value-in-stock","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/","title":{"rendered":"Caesars Insiders Buying Up Gaming Stock"},"content":{"rendered":"

Shares of Caesars Entertainment (NASDAQ: CZR) are down 19.6% over the past year, which is disappointing when considering the S&P 500 is higher by 29.2% over the same stretch.<\/p>\n

\"commercial
Pedestrians walk the Las Vegas Strip near Caesars Entertainment’s Paris. Company insiders are buying the stock. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

However, executives at the gaming company have used the weakness in their employer\u2019s stock to accumulate more shares. That could be an encouraging sign, because as noted in a recent report by the Citi equity research team, insider buying and selling to start 2024 is below the levels seen last year.<\/p>\n

As a percentage of the operator\u2019s market capitalization, Caesars’ insiders bought 0.007% of the gaming company\u2019s shares over the past six months. That placed that casino giant among the top 20 stocks based on that metric.<\/p>\n

Interestingly, both (buying and selling) have had some relationship to index level forward performance historically,”<\/strong> Citi Strategist Scott Chronert wrote in a note. Over “the last ten years there was a decent +0.51 correlation between the number of insider buyers and 12-month forward returns.”<\/strong><\/p><\/blockquote>\n

Insider buying can be a relevant indicator,<\/a> because those buyers are engaging in those purchases for a single reason: they believe their employer\u2019s shares will appreciate in value.<\/p>\n

Gaming Insiders Restrained When Selling<\/h2>\n

Using the percentage of market value purchased metric, Caesars was the only gaming company to appear in the top 20, ranking 15th<\/sup> on the Citi list.<\/p>\n

\n

Perhaps encouragingly — or surprisingly — no gaming operators were among the top 20 companies in terms of insider selling over the past six months. That could be a modest shocker to some market observers when acknowledging that insider selling of at least one highly visible<\/a> gaming corporation was elevated.<\/p>\n<\/div>\n

That could prove pertinent, because not only does lack of insider selling potentially signal management confidence in a stock, but also because there are slight correlations between insider selling and downside on the shares in question.<\/p>\n

“As for the number of insider sellers, there is some evidence that their timing is good, but the correlation is weaker at -0.17,” Chronert added. “Taken together, with more weight on the insider buying measure, there is a mixed signal that generally implies lower but positive forward return expectations.”<\/p>\n

Why Caesars Insiders May Be Validated<\/h2>\n

Indicating that ordinary investors might want to take clues from the executives buying Caesars stock, those purchases may prove prescient. Some analysts believe the stock has been punished too harshly<\/a>, particularly as gross gaming revenue (GGR) in Nevada consistently flirts with or breaks records.<\/p>\n

\n

Of the 16 sell-side analysts covering the gaming stock, 12 rate it the equivalent of \u201cstrong buy\u201d or \u201cbuy,\u201d and the consensus price target of $60.13 implies upside of 44.4% from current levels.<\/p>\n<\/div>\n

Additionally, the Flamingo operator is slashing debt, which could bolster free cash flow, in turn supporting the thesis for the stock.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Caesars Entertainment (NASDAQ: CZR) are down 19.6% over the past year, which is disappointing when considering the S&P 500 is higher by 29.2% over the same stretch. However, executives at the gaming company have used the weakness in their employer\u2019s stock to accumulate more shares. That could be an encouraging sign, because as […]<\/p>\n","protected":false},"author":46,"featured_media":273705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"\nCaesars Insiders See Value In Stock<\/title>\n<meta name=\"description\" content=\"Caesars Insiders Buying Up Gaming Stock.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Insiders See Value In Stock\" \/>\n<meta property=\"og:description\" content=\"Caesars Insiders Buying Up Gaming Stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-04T21:04:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-05T18:31:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/1x-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/\",\"name\":\"Caesars Insiders See Value In Stock\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/1x-1.jpg\",\"datePublished\":\"2024-03-04T21:04:58+00:00\",\"dateModified\":\"2024-03-05T18:31:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Caesars Insiders Buying Up Gaming Stock.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-insiders-see-value-in-stock\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/1x-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/1x-1.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Pedestrians walk the Las Vegas Strip near Caesars Entertainment's Paris. 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