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

Caesars Entertainment, Inc. (NASDAQ:CZR) was the recipient of unusually large options trading on Monday. Investors acquired 21,257 call options on the company. This is an increase of approximately 93% compared to the average volume of 11,001 call options.

Wall Street Analysts Forecast Growth

CZR has been the topic of a number of recent analyst reports. Citizens Jmp upped their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Stifel Nicolaus dropped their price objective on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Truist Financial upped their price objective on Caesars Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.27.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in Caesars Entertainment during the first quarter worth about $201,000. The Manufacturers Life Insurance Company lifted its position in Caesars Entertainment by 12.0% during the first quarter. The Manufacturers Life Insurance Company now owns 45,648 shares of the company’s stock worth $1,206,000 after buying an additional 4,885 shares during the period. Quantinno Capital Management LP lifted its position in Caesars Entertainment by 9.2% during the first quarter. Quantinno Capital Management LP now owns 342,001 shares of the company’s stock worth $9,039,000 after buying an additional 28,952 shares during the period. Whitebox Advisors LLC lifted its position in Caesars Entertainment by 8.7% during the first quarter. Whitebox Advisors LLC now owns 113,165 shares of the company’s stock worth $2,991,000 after buying an additional 9,087 shares during the period. Finally, Gamco Investors INC. ET AL lifted its position in Caesars Entertainment by 1.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,083,927 shares of the company’s stock worth $28,648,000 after buying an additional 16,050 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded down $0.35 on Monday, hitting $27.45. The company’s stock had a trading volume of 798,005 shares, compared to its average volume of 5,403,136. Caesars Entertainment has a 52-week low of $17.86 and a 52-week high of $31.58. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The firm has a fifty day moving average price of $27.10 and a 200-day moving average price of $23.96. The company has a market capitalization of $5.59 billion, a P/E ratio of -11.58 and a beta of 1.77.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. Caesars Entertainment’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Caesars Entertainment will post -0.36 earnings per share for the current fiscal year.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.