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

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

Caesars Entertainment Trading Down 1.3%

Shares of Caesars Entertainment stock traded down $0.35 during trading hours on Monday, reaching $27.45. The stock had a trading volume of 798,005 shares, compared to its average volume of 5,403,136. The firm has a 50 day simple moving average of $27.10 and a two-hundred day simple moving average of $23.96. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -11.58 and a beta of 1.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CZR. Jefferies Financial Group increased their target price on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft cut their target price on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Barclays reduced their target price on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Finally, Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.27.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares in the last quarter. Finally, Stance Capital LLC acquired a new stake in shares of Caesars Entertainment in the third quarter valued at about $43,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.