Traders Purchase Large Volume of Caesars Entertainment Put Options (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of unusually large options trading on Friday. Investors acquired 42,991 put options on the company. This represents an increase of 203% compared to the typical daily volume of 14,178 put options.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CZR shares. JMP Securities cut their target price on 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. Barclays reduced their target price on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Stifel Nicolaus lifted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.43.

Caesars Entertainment Trading Down 0.2 %

Shares of CZR stock opened at $32.51 on Friday. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $47.99. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a 50 day moving average of $37.35 and a 200-day moving average of $38.38. The firm has a market cap of $6.91 billion, a P/E ratio of -19.47 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts anticipate that Caesars Entertainment will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently modified their holdings of the stock. Huntington National Bank increased its holdings in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Caesars Entertainment in the third quarter worth $51,000. Quarry LP purchased a new stake in shares of Caesars Entertainment during the third quarter valued at $68,000. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 403 shares during the period. Finally, Signaturefd LLC raised its stake in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after buying an additional 248 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.