Traders Buy Large Volume of Call Options on Caesars Entertainment (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of some unusual options trading on Friday. Investors bought 31,732 call options on the stock. This represents an increase of 131% compared to the average volume of 13,740 call options.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of CZR. Signaturefd LLC grew its stake in shares of Caesars Entertainment by 9.8% in the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after acquiring an additional 248 shares in the last quarter. Assetmark Inc. boosted its holdings in Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after purchasing an additional 256 shares during the last quarter. Private Advisor Group LLC grew its position in Caesars Entertainment by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after buying an additional 403 shares in the last quarter. Finally, Fiduciary Family Office LLC boosted its stake in shares of Caesars Entertainment by 1.7% in the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock worth $1,052,000 after buying an additional 424 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

CZR opened at $33.09 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -19.81 and a beta of 2.89. The company’s fifty day moving average price is $38.66 and its two-hundred day moving average price is $38.54. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $48.57. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $0.34 EPS. Caesars Entertainment’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Caesars Entertainment will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CZR shares. JMP Securities lowered their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Stifel Nicolaus lifted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company cut their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Barclays decreased their target price on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Finally, StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.71.

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.