Caesars Entertainment Target of Unusually High Options Trading (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Friday. Stock investors bought 31,732 call options on the stock. This is an increase of 131% compared to the typical volume of 13,740 call options.

Analysts Set New Price Targets

CZR has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JMP Securities lowered their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.71.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently modified their holdings of the business. Huntington National Bank increased its stake in Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Caesars Entertainment during the third quarter worth $51,000. Quarry LP bought a new stake in Caesars Entertainment in the 3rd quarter valued at $68,000. GAMMA Investing LLC boosted its stake in Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the period. Finally, Signaturefd LLC increased its holdings in Caesars Entertainment by 77.0% during the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Trading Down 0.2 %

Shares of NASDAQ:CZR traded down $0.07 during mid-day trading on Friday, reaching $33.26. The stock had a trading volume of 1,941,835 shares, compared to its average volume of 4,137,499. The firm has a market cap of $7.07 billion, a PE ratio of -19.92 and a beta of 2.89. The firm has a 50 day simple moving average of $38.66 and a two-hundred day simple moving average of $38.54. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $48.57.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, research analysts predict that Caesars Entertainment will post -0.56 EPS for the current fiscal year.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.