Insider sales at this scale are non-material and do not warrant a directional trade. Monitor next 10-Q for credit metrics (net leverage, EBITDA coverage) which drive preferred equity value more than insider sale patterns. No follow-up catalyst is implied.
Price Chart
Executive Summary
Two CZR insiders (Chief Legal Officer Quatmann and Director Pegram) sold a combined $3.12M in open-market shares over a 7-day window ending June 11, 2026. The CLO alone sold $2.39M, which is ~0.04% of the $6.0B market cap — well below the 0.1% materiality threshold. This cluster is consistent with routine portfolio diversification and tax planning, not a negative signal about the business.
Key Financial Metrics
Key Facts
- 2 insiders sold shares totaling $3.12M in open-market transactions from June 8-12, 2026.
- Chief Legal Officer Edmund Quatmann sold 81,566 shares for $2.39M — the single largest trade.
- Director Michael Pegram sold 142,924 shares across 5 trades totaling ~$4.20M (reported in raw data), but cluster summary gave $3.12M total for the selected window.
- Total sales represent ~0.05% of CZR's $6.0B market cap — routine and immaterial.
- No C-suite CEO or CFO sold; no insider buying to offset the sales.
Financial Impact
$3.12M in insider sales, or ~0.05% of the $6.0B market cap.
Risk Factors
- CZR carries high leverage typical of gaming/hotel REITs; credit events matter more than insider sales.
- Historical performance on CZR filings is weak (0% win rate T+20 over 1 settled report) — model reads on this name have not been predictive.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CZR-1781301639119 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 21d ago | Court Ruling | $29.67 $29.64 | ▼ −0.10% | ▲ +0.12% | $29.65 (−0.08%) |
Sep 10, 2026 22d ago | 144 | $29.65 $29.67 | ▲ +0.07% | ▲ +0.57% | $29.65 (−0.02%) |
Aug 26, 2026 5w ago | DEFM14A | $29.66 $29.69 | ▲ +0.10% | ▲ +0.22% | $29.65 (−0.05%) |
Aug 24, 2026 5w ago | 144 | $29.66 $29.70 | ▲ +0.13% | ▼ −0.33% | $29.65 (−0.05%) |
Aug 21, 2026 6w ago | Insider Cluster | $29.76 $29.73 | ▲ +0.10% | ▲ +0.57% | $29.65 (+0.39%) |
Jul 7, 2026 12w ago | 8-K | $29.82 $29.85 | ▲ +0.10% | ▼ −0.76% | $29.65 (−0.59%) |
Jun 15, 2026 15w ago | 144 | $29.50 $29.29 | ▲ +0.71% | ▼ −0.67% | $29.65 (−0.49%) |
Jun 12, 2026 15w ago | Insider Cluster | $29.50 $29.29 | ▼ −0.71% | ▲ +0.67% | $29.65 (+0.49%) |
Jun 12, 2026 16w ago | Institutional Cluster | $29.49 $29.22 | ▼ −0.92% | ▼ −1.59% | $29.65 (+0.53%) |
Jun 10, 2026 16w ago | 144 | $29.47 $29.31 | ▼ −0.54% | ▼ −3.98% | $29.65 (+0.59%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access