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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the target of unusually large options trading activity on Friday. Traders bought 31,732 call options on the stock. This is an increase of approximately 131% compared to the typical daily volume of 13,740 call options.

Caesars Entertainment Trading Down 0.7 %

Shares of CZR stock opened at $33.09 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -19.81 and a beta of 2.89. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $48.57. The firm has a fifty day moving average price of $38.42 and a 200-day moving average price of $38.52.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CZR. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JMP Securities reduced their price target 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. Stifel Nicolaus upped their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays reduced their price objective on shares of 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, Macquarie reiterated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.71.

Hedge Funds Weigh In On Caesars Entertainment

Several large investors have recently added to or reduced their stakes in CZR. Huntington National Bank raised its position in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after purchasing an additional 833 shares during the period. UMB Bank n.a. purchased a new stake in Caesars Entertainment in the 3rd quarter worth $51,000. Quarry LP bought a new stake in Caesars Entertainment during the third quarter valued at about $68,000. GAMMA Investing LLC lifted its position in shares of Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after acquiring an additional 403 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after acquiring an additional 1,105 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.