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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of unusually large options trading on Thursday. Stock investors acquired 25,089 call options on the stock. This represents an increase of 76% compared to the typical volume of 14,275 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in Caesars Entertainment by 42.7% during the second quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock worth $19,148,000 after acquiring an additional 145,201 shares during the period. Entropy Technologies LP acquired a new stake in Caesars Entertainment during the third quarter worth about $1,300,000. LMR Partners LLP acquired a new stake in Caesars Entertainment during the third quarter worth about $903,000. Gabelli Funds LLC grew its holdings in Caesars Entertainment by 28.0% during the second quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after acquiring an additional 31,500 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Caesars Entertainment during the third quarter worth about $2,998,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CZR has been the subject of several research reports. Barclays lowered 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. JMP Securities lowered their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Macquarie reiterated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average price target of $53.71.

Caesars Entertainment Trading Down 2.1 %

Caesars Entertainment stock opened at $37.01 on Friday. The stock has a 50-day moving average of $40.58 and a two-hundred day moving average of $38.59. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a market cap of $7.86 billion, a PE ratio of -22.16 and a beta of 2.89. Caesars Entertainment has a one year low of $31.74 and a one year high of $50.51.

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