Caesars Entertainment (NASDAQ:CZR) Sees Unusually-High Trading Volume

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) saw strong trading volume on Thursday . 1,324,408 shares traded hands during mid-day trading, a decline of 65% from the previous session’s volume of 3,745,903 shares.The stock last traded at $38.60 and had previously closed at $38.15.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of Caesars Entertainment in a report on Tuesday, May 21st. They issued a “strong-buy” rating and a $55.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. JMP Securities lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley lifted their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $55.07.

Caesars Entertainment Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $8.60 billion, a PE ratio of 11.26 and a beta of 2.89. The firm’s fifty day moving average price is $36.38 and its two-hundred day moving average price is $41.07.

Caesars Entertainment (NASDAQ:CZR) last posted 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). The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. As a group, equities research analysts forecast that Caesars Entertainment, Inc. will post 0.23 EPS for the current year.

Insider Activity

In related news, Director Michael E. Pegram purchased 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now owns 181,697 shares in the company, valued at $6,611,953.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now owns 350 shares of the company’s stock, valued at approximately $11,382. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram purchased 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now owns 181,697 shares in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently modified their holdings of the business. American Trust grew its holdings in shares of Caesars Entertainment by 4.5% during the first quarter. American Trust now owns 7,346 shares of the company’s stock worth $321,000 after buying an additional 313 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Caesars Entertainment by 8.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock worth $234,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Caesars Entertainment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 59,170 shares of the company’s stock worth $2,774,000 after buying an additional 457 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Caesars Entertainment by 12.0% during the fourth quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after buying an additional 538 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Caesars Entertainment by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the company’s stock worth $728,000 after buying an additional 580 shares in the last quarter. 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.