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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of some unusual options trading activity on Thursday. Investors bought 25,089 call options on the company. This is an increase of 76% compared to the typical volume of 14,275 call options.

Caesars Entertainment Stock Up 1.9 %

CZR opened at $37.81 on Friday. The company has a market capitalization of $8.03 billion, a PE ratio of -22.64 and a beta of 2.89. The firm has a 50-day simple moving average of $40.73 and a two-hundred day simple moving average of $38.57. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. 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 previous year, the company posted $0.34 earnings per share. Caesars Entertainment’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts forecast that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

CZR has been the topic of several analyst reports. Barclays lowered their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. JMP Securities lowered their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Finally, Stifel Nicolaus upped their price target 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 issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $53.86.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently bought and sold shares of CZR. Signaturefd LLC raised its position in Caesars Entertainment by 9.8% during the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. Assetmark Inc. raised its holdings in Caesars Entertainment by 8.0% during the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares during the period. Private Advisor Group LLC lifted its position in Caesars Entertainment by 3.0% in the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after buying an additional 317 shares during the last quarter. GAMMA Investing LLC lifted its position in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after buying an additional 403 shares during the last quarter. Finally, Fiduciary Family Office LLC boosted its stake in Caesars Entertainment by 1.7% during the third quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock worth $1,052,000 after buying an additional 424 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.