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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of some unusual options trading activity on Friday. Stock traders acquired 31,732 call options on the stock. This is an increase of 131% compared to the typical volume of 13,740 call options.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after buying an additional 248 shares during the last quarter. Assetmark Inc. raised its stake in Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after acquiring an additional 256 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of 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 acquiring an additional 317 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares in the last quarter. Finally, Fiduciary Family Office LLC increased its position in Caesars Entertainment by 1.7% during the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock worth $1,052,000 after purchasing an additional 424 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CZR shares. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Macquarie restated an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.71.

Caesars Entertainment Stock Down 0.7 %

Shares of CZR opened at $33.09 on Friday. 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 12 month low of $31.74 and a 12 month high of $48.57. The firm’s 50 day moving average is $38.66 and its 200-day moving average is $38.54. The stock has a market capitalization of $7.03 billion, a PE ratio of -19.81 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. Equities research analysts forecast that Caesars Entertainment will post -0.56 EPS for the current 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.