Director Michael E Pegram liquidates entire 55.0K share stake in CZR for $1.6M at $29.20
Michael E Pegram's complete exit of his 55,000 shares (-100.0% of pre-transaction holdings) via 2 separate sales totaling $1,606,030.50 represents a full liquidation of his equity stake in Caesars Entertainment. The timing warrants attention: while the company carries a $5.9B market cap with $2.9B quarterly revenue, it remains unprofitable with negative net income of $-98.0M for the most recent period, and Pegram's prior 5 trades at CZR show mixed outcomes (3 of 4 measurable buys resulted in positive 90-day returns, but his most recent buy on 2024-05-29 showed +24.3% in 30 days). The current price of $29.18 sits 7.6% below the 52-week high of $31.58 and within close proximity to his blended sale price of $29.20, suggesting his execution occurred near recent highs. The complete elimination of his position—regardless of motive—eliminates any residual skin in the game for a director at an unprofitable company, which represents a material shift in insider commitment.