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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Mather Group LLC. acquired a new position in Caesars Entertainment during the first quarter worth $53,000. TFO Wealth Partners LLC increased its position in shares of Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares in the last quarter. GAMMA Investing LLC lifted its position in Caesars Entertainment by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after acquiring an additional 622 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth approximately $93,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Trading Up 5.3 %

NASDAQ CZR opened at $42.95 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 12.00 and a beta of 2.96. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51. The business’s fifty day moving average is $37.49 and its 200 day moving average is $37.85.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CZR shares. Wells Fargo & Company lifted their price objective on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JMP Securities increased their target price on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a report on Thursday, August 22nd. Jefferies Financial Group cut their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Morgan Stanley reduced their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.14.

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.