Stock Traders Purchase High Volume of Caesars Entertainment Call Options (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 26,448 call options on the stock. This is an increase of 70% compared to the typical volume of 15,595 call options.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently added to or reduced their stakes in CZR. American Assets Investment Management LLC acquired a new position in Caesars Entertainment during the 4th quarter worth $318,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Caesars Entertainment during the 4th quarter worth $14,599,000. American Trust grew its holdings in Caesars Entertainment by 8.7% during the 4th quarter. American Trust now owns 7,505 shares of the company’s stock worth $251,000 after acquiring an additional 601 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Caesars Entertainment by 52.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock worth $366,000 after acquiring an additional 3,764 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in Caesars Entertainment by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 85,118 shares of the company’s stock worth $2,845,000 after acquiring an additional 920 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $29.12 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The company has a market cap of $6.17 billion, a P/E ratio of -17.44 and a beta of 2.97. Caesars Entertainment has a fifty-two week low of $26.42 and a fifty-two week high of $45.93. The firm’s 50 day moving average is $33.55 and its two-hundred day moving average is $37.06.

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

Analyst Ratings Changes

Several research analysts have weighed in on CZR shares. Raymond James lowered their target price on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. TD Cowen lowered their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group lowered their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

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.