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

Caesars Entertainment, Inc. (NASDAQ:CZR) saw some unusual options trading on Friday. Stock investors purchased 42,991 put options on the stock. This is an increase of approximately 203% compared to the typical daily volume of 14,178 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CZR shares. Jefferies Financial Group dropped their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday. JMP Securities decreased their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Morgan Stanley raised their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Macquarie reissued an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in 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 acquiring an additional 833 shares during the last quarter. UMB Bank n.a. acquired a new position in Caesars Entertainment in the 3rd quarter valued at $51,000. Quarry LP purchased a new stake in shares of Caesars Entertainment in the third quarter valued at about $68,000. GAMMA Investing LLC increased its stake in shares of Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after acquiring an additional 403 shares during the period. Finally, Signaturefd LLC lifted its position in Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 0.2 %

Shares of NASDAQ CZR opened at $32.51 on Friday. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $47.99. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -19.47 and a beta of 2.90. 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 business has a 50-day moving average of $37.35 and a two-hundred day moving average of $38.38.

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 analysts’ consensus estimates of $0.21 by ($0.25). The business 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%. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment will post -0.56 earnings per share 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.