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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of unusually large options trading on Thursday. Investors bought 17,696 call options on the company. This is an increase of 31% compared to the typical volume of 13,505 call options.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $31.96 per share, with a total value of $319,600.00. Following the completion of the acquisition, the director now directly owns 191,697 shares of the company’s stock, valued at approximately $6,126,636.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Michael E. Pegram acquired 40,000 shares of Caesars Entertainment stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the purchase, the director now owns 181,697 shares in the company, valued at $6,611,953.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Pegram acquired 10,000 shares of Caesars Entertainment stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $31.96 per share, with a total value of $319,600.00. Following the purchase, the director now owns 191,697 shares of the company’s stock, valued at approximately $6,126,636.12. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of large investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Caesars Entertainment by 0.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock valued at $1,625,000 after buying an additional 285 shares during the period. American Trust raised its holdings in shares of Caesars Entertainment by 4.5% during the 1st quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after buying an additional 313 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Caesars Entertainment by 13.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock valued at $148,000 after buying an additional 376 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Caesars Entertainment by 8.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after buying an additional 400 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 59,170 shares of the company’s stock valued at $2,774,000 after buying an additional 457 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $39.16 on Friday. The business’s 50-day moving average price is $36.40 and its 200 day moving average price is $41.24. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $60.27. The company has a market capitalization of $8.48 billion, a PE ratio of 11.09 and a beta of 2.89. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.82 billion. On average, research analysts predict that Caesars Entertainment will post 0.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. B. Riley started coverage on Caesars Entertainment in a research note on Thursday, May 9th. They set a “buy” rating and a $70.00 price target for the company. Raymond James started coverage on Caesars Entertainment in a research report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price objective for the company. Wells Fargo & Company cut their price objective on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, JMP Securities cut their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.07.

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.