Caesars Entertainment Sees Unusually Large Options Volume (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) saw unusually large options trading on Wednesday. Stock investors bought 20,595 call options on the company. This represents an increase of 20% compared to the typical volume of 17,222 call options.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares during the last quarter. Nut Tree Capital Management LP boosted its position in shares of Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after buying an additional 1,700,000 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after acquiring an additional 1,515,763 shares during the last quarter. Helikon Investments Ltd bought a new stake in Caesars Entertainment in the 2nd quarter worth about $37,763,000. Finally, Capital World Investors grew its holdings in shares of Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded up $2.74 during trading on Wednesday, reaching $43.54. 3,076,615 shares of the stock were exchanged, compared to its average volume of 4,213,292. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The stock has a 50-day moving average price of $37.40 and a 200-day moving average price of $37.84. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51. The firm has a market cap of $9.42 billion, a PE ratio of 12.31 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the business earned $0.82 EPS. Caesars Entertainment’s revenue was down 1.7% on a year-over-year basis. Research analysts expect that Caesars Entertainment will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CZR. Jefferies Financial Group lowered their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JMP Securities upped their price target on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Thursday, August 22nd. Morgan Stanley reduced their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Finally, Susquehanna reissued a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Caesars Entertainment Company Profile

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.