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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Friday. Stock investors bought 42,991 put options on the stock. This is an increase of 203% compared to the typical volume of 14,178 put options.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $32.51 on Friday. The business has a 50 day moving average of $37.35 and a 200 day moving average of $38.38. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $47.99. The company has a market cap of $6.91 billion, a PE ratio of -19.47 and a beta of 2.90. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, equities research analysts forecast that Caesars Entertainment will post -0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CZR. Huntington National Bank raised its stake in Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Caesars Entertainment in the 3rd quarter worth about $51,000. Quarry LP bought a new position in Caesars Entertainment in the 3rd quarter worth about $68,000. GAMMA Investing LLC grew its position in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CZR. Morgan Stanley upped their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JMP Securities dropped their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Finally, Jefferies Financial Group reduced their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.43.

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.