Caesars Entertainment Target of Unusually Large Options Trading (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of some unusual options trading on Friday. Traders bought 29,095 put options on the stock. This represents an increase of 83% compared to the average daily volume of 15,916 put options.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CZR shares. Wells Fargo & Company reduced their price target on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Barclays cut their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Macquarie reduced their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Raymond James cut their target price on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Caesars Entertainment Trading Down 5.0 %

Shares of CZR stock opened at $25.67 on Friday. Caesars Entertainment has a fifty-two week low of $25.43 and a fifty-two week high of $45.93. 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 50 day simple moving average of $32.79 and a two-hundred day simple moving average of $36.59. The company has a market cap of $5.44 billion, a P/E ratio of -15.37 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Research analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors have recently made changes to their positions in the stock. Villere ST Denis J & Co. LLC grew its stake in shares of Caesars Entertainment by 6.2% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock valued at $26,877,000 after buying an additional 47,294 shares during the period. Guyasuta Investment Advisors Inc. bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $385,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Caesars Entertainment by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock valued at $62,728,000 after acquiring an additional 11,671 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Caesars Entertainment by 4.5% during the third quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock worth $4,734,000 after purchasing an additional 4,840 shares during the period. Finally, Key Colony Management LLC bought a new position in shares of Caesars Entertainment in the 4th quarter worth $6,350,000. Institutional investors and hedge funds 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.